CHK OIL (00632) plans to offer a discount of approximately 12.5% on the rights issue, with a maximum net capital raising of approximately HK$7.3 million.

CHK Oil (00632) announced on January 15, 2025, that the company plans to issue no more than 20 million shares, equivalent to approximately 2.32% of the total issued shares after the issuance and issuance of the new shares. The offer price for each share is HK$0.385, representing a discount of approximately 12.5% compared to the closing price of HK$0.44 per share on January 15. Assuming all the shares offered are fully subscribed, the total amount expected to be raised from the offering is approximately HK$7.7 million, with an expected net amount of approximately HK$7.3 million. The Group intends to allocate approximately 50% of the funds for the development, operation, and operational capital needs of its oil fields in the United States, and approximately 50% for the operation of other businesses of the Group and general operational capital.