NIU HOLDINGS (08619) plans a "1 for 2" rights issue.

NIU Holdings (08619) announced that the company proposes to issue up to 2.89 billion rights issue shares to eligible shareholders at a subscription price of HK$0.107 per share based on a basis of one existing share held for every two rights issue shares held on the record date, in order to raise approximately HK$309.3 million (before expenses). Assuming that the number of shares issued up to the record date or prior remains unchanged, and all the rights issue shares to be issued have been fully subscribed, the total amount raised from the rights issue will be approximately HK$309.3 million. After deducting estimated professional fees and other related expenses of approximately HK$550,000, the estimated net proceeds from the rights issue will be approximately HK$30.38 million (assuming no change in the number of shares issued up to the record date). After deducting the rights issue costs and expenses, the estimated net price per rights issue share will be approximately HK$0.105.