WORLDGATEGLOBAL (08292) plans to discount about 5% of the rights issue with a maximum net raise of approximately HK$12.3 million.

WORLDGATEGLOBAL (08292) announced on February 12, 2025, that the company plans to issue up to 126.7 million shares, representing approximately 16.67% of the enlarged issued share capital of the company. The issue price for the shares is 0.1 Hong Kong dollars per share, a discount of approximately 5.0% compared to the closing price of 0.105 Hong Kong dollars per share on February 12. Assuming full subscription of the shares, the total proceeds and net proceeds from the offering will be approximately HK$126.72 million and HK$123 million, respectively. The company plans to use approximately 40% of the net proceeds for manufacturing and selling plastic products in Vietnam, and approximately 60% for general operating expenses of the group.