Accor Holdings (03313) plans to raise a maximum net share offering of approximately HK$200 million according to the “1 to 3” benchmark

According to Zhitong Finance App News, Accor Holdings (03313) issued an announcement. The board of directors proposed to raise up to about HK$205 million in total proceeds through a share offering after the share offering conditions are met. The benchmark is that eligible shareholders can be issued 3 shares for every existing share held on the record date, and to supply 427 million shares at a subscription price of HK$0.48 per share offered. The shares must be paid in full at the time of acceptance. Assuming that there will be no change in the total number of issued share capital of the Company on or before the record date and that the share offering is accepted, the maximum net proceeds from the share offering is estimated to be approximately HK$200 million. The directors intend to distribute the net proceeds as follows: approximately HK$162 million, accounting for about 80.95% of the net proceeds, to be used to repay the Group's liabilities; and approximately HK$38.16 million, accounting for approximately 19.05% of the net proceeds, to be allocated for general and corporate administrative purposes. This distribution includes directors' remuneration, wages and salaries, legal and professional expenses, and rent expenses.