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Long Investment Seeks HK$89 Million from Rights Issue

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Long Investment (HKG:2312) proposed a 1-for-2 rights issue at a subscription price of HK$0.395 per share, according to a Monday Hong Kong bourse filing.

The investment company expects to raise up to HK$89.3 million in net proceeds by issuing a maximum of 228.4 million rights shares on the basis of one rights share for every two shares held.

About HK$80.4 million, or 90% of the net proceeds, will be used to invest in listed and unlisted securities of AI and Web3 companies. The remaining amount will be used for working capital.

The company has set Sept. 29 as the record date for the rights issue.

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