GOLDENPOWER (03919) proposes to issue rights shares on a "2 for 1" basis at a discount of approximately 14.3%, aiming to raise net proceeds of approximately HK$12.6 million.

GOLDENPOWER (03919) announced that the Company proposes to issue 22.686 million rights shares on a "2 for 1" basis at HK$0.6 per rights share, representing a discount of approximately 14.3% to the closing price of HK$0.7 per share as quoted on the Stock Exchange on the last trading day, to raise approximately HK$13.6 million, with net proceeds of approximately HK$12.6 million, of which approximately 90.0% will be used to fully repay certain bank financings and approximately 10% will be used as general working capital of the Group.