WAI HUNG GROUP (03321) plans to discount 20% of the rights issue, with a maximum net proceeds of approximately 1.99 million Hong Kong dollars.

WAI HUNG GROUP (03321) announced that on September 16, 2024, the company plans to issue a maximum of 100.93 million shares through a placing agent to at least six placing persons at a placing price of HK$0.02 per share, representing a 20% discount to the closing price of HK$0.025 per share on that day. The shares to be placed represent approximately 16.67% of the enlarged share capital. The maximum gross proceeds from the placing are expected to be approximately HK$2.02 million, with net proceeds of approximately HK$1.99 million, intended for the general working capital of the group.