CITYCHAMP (00256) proposed a "3 for 1" rights issue.
Crown City Watch Jewelry (00256) announced that the company recommends, according to the record date, holding 3 existing shares to receive 1 rights share, at a subscription price of HK$0.1 per rights share. Through issuing 1.45 billion rights shares to eligible shareholders (assuming the number of issued shares has not changed on or before the record date), the company aims to raise approximately HK$145 million. The rights issue will not be extended to ineligible shareholders (if any).
Citychamp (00256) announced that the company recommends a rights issue of 1 share for every 3 existing shares held on the record date, at a subscription price of HK$0.1 per rights share. Through the issuance of 1.4506 billion rights shares to eligible shareholders (assuming there has been no change in the number of issued shares on or before the record date), the company aims to raise up to approximately HK$145 million. The rights issue will not be extended to ineligible shareholders (if any).
Assuming there has been no change in the number of issued shares on or before the record date, if all the rights shares are fully subscribed, the estimated net proceeds will be approximately HK$143 million.
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