CHINA WOOD INT (01822) plans to conduct a rights issue at a ratio of "1 for 1", with a maximum net proceeds of approximately HK$44.6 million.

China Wood International (01822) announced that the company suggests a rights issue ratio of 1 rights share for every 1 existing share held on the record date, at a subscription price of HK$0.111 per rights share. The company plans to raise approximately HK$45.6 million by issuing 411 million rights shares to eligible shareholders. After deducting estimated expenses, the net proceeds from the rights issue (assuming full subscription) are estimated to be around HK$44.6 million. Approximately 44.8% of the proceeds will be used to invest in China's functional food and beverage business, while approximately 55.2% will be used for general working capital purposes, including but not limited to operational costs, employee expenses, rental expenses, professional fees, and other office expenses.