China Castson 81 Finance Nets HK$49 Million from Rights Issue; Shares Jump 11%
China Castson 81 Finance (HKG:0810) raised about HK$49.2 million from a rights issue, according to a Monday Hong Kong bourse filing.Shares of the securities investor were up over 11% in Tuesday morning trade.The company received valid acceptances for about 53.7% of the offered shares, with the remaining 46.3% taken up by the underwriter, Goodchamp, after unsubscribed shares failed to be placed.Following the transaction, Goodchamp and parties acting in concert increased their stake to about 50.4% from 17.3%.Net proceeds will be used mainly for investments in sectors including new energy, artificial intelligence, and digital assets, as well as for general working capital.Dealings in the rights shares are expected to begin on Wednesday, the filing said.
