Brief: Kwan On Says It Will Seek Approval Of An Increase In Authorised Share Capital
03/08/2022 16:15
Aug 3 (Reuters) - Kwan On Holdings Ltd 1559.HK :
* TO SEEK APPROVAL OF AN INCREASE IN AUTHORISED SHARE
CAPITAL TO
HK$100 MILLION DIVIDED INTO 10 BILLION SHARES
* INTENDS TO APPLY ABOUT 80% OF NET PROCEEDS FOR FINANCING
CONSTRUCTION PROJECTS IN HONG KONG
* INTENDS TO APPLY APPROXIMATELY 20% OF NET PROCEEDS AS
GENERAL
WORKING CAPITAL
* NET PROCEEDS FROM RIGHTS ISSUE AFTER DEDUCTING EXPENSES
ESTIMATED TO BE UP TO APPROXIMATELY HK$57.90 MILLION
Further company coverage: 1559.HK
((Reuters.Briefs@thomsonreuters.com;))
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