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China Health Technology Group (01069.HK) plans to issue rights shares on a "1 for 2" basis, raising up to HKD 51.5 million.
Glory Holdings March 27丨China Health Technology Group (01069.HK) announced that the company plans to issue up to 206 million rights shares at a subscription price of HKD 0.25 per share, representing a discount of approximately 20.63% compared to the last trading day’s closing price of HKD 0.315 per share reported on the Stock Exchange, with total proceeds of up to approximately HKD 51.5 million (assuming full subscription of the rights issue).
The company intends to use the net proceeds from the rights issue for (i) approximately 44.00% to acquire ginseng cultivation land and related marketing and promotional activities to support the group’s ginseng cultivation business expansion; (ii) approximately 36.00% for investment in the medical beauty industry; and (iii) approximately 20.00% for the group’s general working capital.