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HK.AI Capital Eyes HK$638 Million from Rights Issue; Shares Plunge 16%

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HK.AI Capital (HKG:1140) is proposing a one-for-two rights issue to raise net proceeds of around HK$637.8 million, according to a Thursday Hong Kong bourse filing.

Shares of the securities investor were down over 16% in Friday afternoon trading.

Under the rights issue, the company will issue 5.83 billion shares at HK$0.110 apiece, representing 33.3% of the company's enlarged issued share capital.

Any unsubscribed shares will be subject to a placing agreement.

The firm will use proceeds for listed and unlisted equity and debt security investments, as well as for general working capital.

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