Core Viewpoint - Hong Kong Communications International Holdings (00248.HK) plans to increase its authorized share capital and consolidate shares, aiming to raise funds through a rights issue to strengthen its financial position [1][2] Group 1: Share Capital Increase - The board proposes to increase the authorized share capital from HKD 20 million (2 billion existing shares) to HKD 40 million (4 billion existing shares) [1] - This increase will take effect upon approval by shareholders at a special general meeting [1] Group 2: Share Consolidation - A share consolidation is proposed, where every eight existing shares of HKD 0.01 each will be consolidated into one share of HKD 0.08 [1] - The consolidation will also require shareholder approval and will take effect on the second business day following the special general meeting [1] - Post-consolidation, the trading unit on the Stock Exchange will change from 4,000 existing shares to 10,000 consolidated shares [1] Group 3: Rights Issue - Following the increase in authorized share capital and share consolidation, the board suggests a rights issue where every two consolidated shares will entitle shareholders to one new share at a subscription price of HKD 0.28 [2] - The rights issue aims to issue up to 77,833,203 shares, potentially raising approximately HKD 21.8 million before expenses [2] - The shares to be issued represent about 50% of the total consolidated shares post-consolidation and about 33.3% of the enlarged issued consolidated shares [2] Group 4: Use of Proceeds - The net proceeds from the rights issue are expected to be approximately HKD 9.4 million after expenses [2] - The company plans to allocate around HKD 8.5 million (90% of the net proceeds) to repay bank borrowings and the remaining HKD 0.9 million (10% of the net proceeds) for general working capital, including employee costs [2]
香港通讯国际控股(00248.HK)拟”8并1“并股后按”2供1“供股