TIAN CHENG HLDG (02110) proposes to issue rights shares on a "1-for-3" basis at a discount of approximately 29.31%.

TIAN CHENG HLDG (02110) announces that the Company proposes to issue rights shares on a "1-for-3" basis at HK$0.463 per rights share, representing a discount of approximately 29.31% to the closing price of HK$0.655 per share as quoted on the Stock Exchange on the last trading day. Assuming the rights issue is fully subscribed, the maximum gross proceeds and the net proceeds after deducting relevant expenses from the rights issue are expected to be approximately HK$60 million and HK$56.62 million respectively. Approximately 35.3% will be used for the upfront deposits and initial working capital required for the execution of potential civil engineering contracts currently under negotiation, and such amounts are expected to be fully utilized by February 28, 2027; approximately 58.3% will be used for business development and expansion of the marine construction segment and/or other civil engineering segments; approximately 6.4% will be used as the Group's general working capital.