FINWIRES · TerminalLIVE
FINWIRES

FEG Holdings Eyes HK$33.5 Million via Rights Offering

-- FEG Holdings (HKG:1413) said it was looking to raise HK$33.5 million via a rights offering of up to 164 million shares, according to a Hong Kong bourse filing Tuesday.

Shares of the construction services provider fell nearly 7% in Wednesday morning trade.

The firm is offering 1 rights shares for every 2 shares held in the company at HK$0.214 each.

Unsubscribed shares will be offered to external investors.

The rights offering will help raise cash for the company's needs, including for the exploration of new business opportunities.

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