TOMO HOLDINGS (06928) plans to carry out a rights issue on a basis of "2 shares for every 1 share held", with a maximum net proceeds of approximately HK$39.5 million.

Tomo Holdings (06928) announces that the board of directors proposes (including) a rights issue in which shareholders will be entitled to subscribe for 1 new share for every 2 shares held on the record date at a subscription price of HK$0.18 per share, to raise an estimated net proceeds of approximately HK$40.5 million (assuming no further issuance or buyback of shares on or before the record date). The rights issue is only available for eligible shareholders to subscribe, and will not be offered to excluded shareholders. If fully subscribed, the estimated net proceeds from the rights issue are expected to be approximately HK$39.5 million after deducting all necessary expenses. The company plans to use the net proceeds from the rights issue as follows: approximately 57.0% for enhancing, expanding, and developing the automotive trading business; approximately 25.8% for upgrading the electronic parts and interior business; approximately 7.6% for paying increased operating costs due to business expansion and setting aside as a contingency fund for market risks; and approximately 9.5% for general working capital of the group, expected to be utilized by March 2026.