Space Group Holdings Limited (HK:2448) has released an update.
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Space Group Holdings Limited has announced the completion of their Rights Issue and subsequent Placing, which was initially undersubscribed by about 94.95%. However, the company successfully placed the remaining shares with independent placees at HK$0.68 each, matching the Subscription Price, resulting in no Net Gain for the No Action Shareholders. The net proceeds of approximately HK$155.26 million from the Rights Issue will be used primarily to repay debt and for general working capital.
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