Crown Global Group (00727) announced that the company proposes to issue a maximum of about 1 to eligible shareholders according to the “2 for 1” basis...
According to Zhitong Finance App News, Crown Global Group (00727) announced that the company proposes to issue a maximum of approximately 1.766 billion shares to eligible shareholders according to the “2 for 1” basis (assuming there is no change in the number of issued shares on or before the record date), HK$0.09 per share, a premium of about 2.27% over the closing price of HK$0.088 per share reported on the Stock Exchange on the last trading day. The share offering may only be presented to eligible shareholders and will not be extended to ineligible shareholders.
The company plans to use the net proceeds from the share offering of HK$0.154 billion to finance capital expenses required for property development projects.
