Kwan On Plans HK$65 Million Non-Underwritten Rights Issue to Cut Debt and Fund Projects
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Kwan On Holdings Ltd. plans to raise approximately HK$65.42 million through a non-underwritten rights issue, offering one rights share for every two shares held at HK$0.07 per share. The proceeds will be allocated as follows: 70.7% for repaying liabilities, 15.7% for new construction projects, and 13.6% for general working capital. The controlling shareholder, Sino Coronet, will subscribe to its full entitlement. The latest analyst rating for Kwan On stock is a Hold with a price target of HK$0.08.
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