[ET Net News Agency, 14 March 2016] Winsway Enterprises (01733) said it proposes to
consolidate every 20 existing shares into one consolidated share.
The company also proposes to raise about US$50 million (around HK$387.5 million) by way
of the rights issue on the basis of three rights shares for every one consolidated share.
The subscription price is HK$0.69 per share, representing a discount of about 76% to the
adjusted closing price of HK$2.9 per consolidated share, based on the closing price of
HK$0.145.
The proceeds will be used to pay the sum of US$41.7 million to the holders of the senior
notes in the restructuring of the outstanding senior notes, the consent fee under the
restructuring support agreement and the success fee to Houlihan Lokey, the financial
advisor to the steering committee.
Trading in shares of Winsway will be resumed this morning. (HL)
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01733 E-COMMODITIES
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1.400 -0.010 (-0.709%) Others
14/03/2016 08:42
Winsway (01733) mulls rights issue after share consolidation
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