IRC (01029) proposes to issue shares at a discount of approximately 16.39% based on a "2 shares for 1 share" basis, raising a maximum of approximately HK$326 million.

IRC (01029) announced that the company recommends issuing a maximum of approximately 639 million shares of rights shares at a price of HK$0.51 per share, based on a "2 shares for 1" basis, representing a discount of approximately 16.39% compared to the closing price of HK$0.610 per share on the last trading day on the Stock Exchange. It is estimated that the net proceeds from the rights issue will be approximately HK$326 million, with 68% used to fully repay the outstanding principal of loans to MIC, 22% allocated to fund K&S' mining business, and 10% allocated to supplement general operating funds.