Financial News Media (00205.HK) plans to issue new shares at a discount of about 23.61% based on a "2 for 1" basis, raising a maximum of approximately HK$39.9 million.

According to the Zhixun Finance APP, Finance Media (00205.HK) announced that the company recommends a basis of holding two existing shares to receive one rights share at a subscription price of HK$0.11 per rights share, issuing a total of 368,071,365 rights shares. If all are subscribed for, and assuming the number of issued shares remains unchanged on or before the record date, the company aims to raise a total of approximately HK$40.5 million. The subscription price represents a discount of approximately 23.61% compared to the closing price of HK$0.144 per share on the last trading day on the Stock Exchange. The rights issue is only available for eligible shareholders and will not be offered to ineligible shareholders.