Asia
FDB Holdings Eyes HK$79.1 Million from Rights Issue
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.
HKG:1826
