Qiaoxiong International (00381.HK) completes rights issue and placement net raised 140 million yuan
Qiaoxiong International (00381.HK) announced the results of the rights issue of 3 shares per share and received a total of 8 valid acceptances and applications, involving a total of 15.9 million rights shares, accounting for about 2.3% of the total number of rights shares offered under the rights issue.
In addition, all about 675 million unsubscribed shares under the placing have been successfully placed at $0.205 per share. Based on the acceptance of the rights issue and the results of the placement, about 691 million rights issue shares are proposed to be allotted and issued, accounting for 100 per cent of the total number of rights issue shares offered for subscription under the rights issue.
The total amount of proceeds from the rights issue is about $142 million, while the net proceeds from the rights issue is about $140 million. The company intends to use all the net proceeds from the rights issue to repay short-term liabilities.
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