KINGLAND GROUP (01751) plans to carry out a rights issue at a ratio of "3 shares for 1" with a net fundraising of approximately HK$1.481 billion.

KINGLAND GROUP (01751) announces that the company suggests a rights issue on the basis of 1 new share for every 3 shares held on the record date, at a subscription price of HK$1.58 per rights share. This price is the same as the closing market price of HK$1.58 per share on the last trading day on the Hong Kong Stock Exchange, with no discount or premium. Through the issuance of 96.768 million new shares to eligible shareholders, the company aims to raise a maximum of approximately HK$1.529 billion. The rights issue is only available to eligible shareholders and will not be offered to ineligible shareholders. The estimated net proceeds from the rights issue is approximately HK$1.481 billion. The company plans to utilize around 60% of the net proceeds for fulfilling margin requirements, and around 40% of the net proceeds will be allocated towards previous project costs, including but not limited to purchasing construction materials.