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FDB Holdings Eyes HK$79.1 Million from Rights Issue

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FDB Holdings (HKG:1826) is proposing a one-for-two rights share issue to raise up to around HK$79.1 million in net proceeds, according to a May 29 Hong Kong bourse filing.

Shares of the contracting services firm were up nearly 4% in Monday afternoon trading.

The firm is looking to issue 799.2 million shares at HK$0.10 apiece to qualifying shareholders under the issue.

The company will use proceeds to fulfill the upfront payments and costs related to certain overseas expansion, EPC projects, and setting up overseas offices; as well as for general working capital.

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