CROCODILE plans to issue a rights offering at a discount of approximately 22.68% based on a "2 for 1" ratio, aiming to raise a maximum net amount of about HKD 51.6 million
CROCODILE plans to issue up to approximately 35.5329 million rights shares to eligible shareholders on a "2 for 1" basis, at HKD 1.50 per share, representing a discount of approximately 22.68%. This move is expected to raise up to approximately HKD 53.2993 million, with a net raise of about HKD 51.6 million, primarily for repaying bank loans and paying interest
According to the Zhitong Finance APP, CROCODILE (00122) announced that the company proposes to issue up to approximately 35.5329 million rights shares to eligible shareholders on the basis of "2 for 1" through a rights issue (assuming the number of issued shares remains unchanged on or before the record date), with each rights share priced at HKD 1.50, representing a discount of approximately 22.68% to the closing price of HKD 1.94 per share reported on the last trading day on the Stock Exchange, aiming to raise up to approximately HKD 53.2993 million (before expenses).
Assuming all rights shares are subscribed, the net proceeds from the rights issue are approximately HKD 51.6 million, which are intended to be used to repay the group's bank loans and pay interest
