SHUN WO GROUP (01591) plans to offer a 6.7% discount on the "3-for-1" basis for the issuance of new shares, with a maximum net fundraising of about HK$17.92 million.

Shun Wo Group (01591) announced that the company proposes to issue up to approximately 133 million shares for subscription at a subscription price of HK$0.14 per share, based on a "3-for-1" basis. The subscription price represents a discount of approximately 6.7% to the closing market price of HK$0.150 per share on the last trading day on the Stock Exchange of Hong Kong. If all the shares are fully subscribed, the net proceeds are expected to be approximately HK$17.92 million, intended for the purchase of equipment and machinery for the group as well as for general operating expenses.