Yu Rong Group (01536) plans to discount approximately 27.01% of shares to raise the maximum net amount of about HK$135 million by issuing shares according to the “1 for 3” benchmark

Zhitong Finance App News, Yurong Group (01536) announced that the company proposes to issue up to 1,368 billion shares according to the “1 for 3” benchmark, at HK$0.1 per share, a discount of about 27.01% from the closing price of HK$0.137 per share reported on the Stock Exchange on the last trading day. The maximum net proceeds from the share offering were approximately HK$135 million, or about 17.1% to settle deferred payments; approximately 17.3% to cover the exercise price of the exercise of the subscription option; about 29.8% for the target company's business development; about 3.7% for expanding business operations to investment properties held by the target company after the expiration of the existing lease; and approximately 32.1% for the Group's general working capital (including but not limited to rent expenses, salary expenses, professional expenses and other business/operating expenses).