Iron Ore (01029.HK) proposes rights issue on a 2-for-1 basis at a discount of approximately 16.00%, to raise a maximum net proceeds of approximately HK$299 million

Zhitong Finance APP News, Iron Ore (01029.HK) announced that the Company proposes to issue a maximum of 958 million rights shares to qualifying shareholders on a non-fully underwritten basis, at a subscription price of HK$0.315 per rights share, on the basis of 1 rights share for every 2 existing shares held on the record date (assuming no change in the number of issued shares on or before the record date), thereby raising up to approximately HK$302 million (before deducting expenses). The rights issue will be offered only to qualifying shareholders and will not be offered to non-qualifying shareholders. The subscription price represents a discount of approximately 16.00% to the closing price of HK$0.375 per share as quoted on the Stock Exchange on the last trading day.