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RTNominal unchange0.380 0.000 (0.000%)

05/05/2021 13:54

Coolpad Group (02369) proposes rights issue

[ET Net News Agency, 5 May 2021] Coolpad Group Limited (02369) said it proposes to
raise not less than approximately HK$1,008 million and not more than approximately
HK$1,028 million, before expenses, by way of the rights issue of not less than
3,600,799,740 rights shares and not more than 3,672,863,490 rights shares to the
qualifying shareholders at a subscription price of HK$0.28 per rights share on the basis
of one rights share for every two existing shares held on the record date.
The estimated net proceeds from the Rights Issue will be not less than approximately
HK$981 million but not more than approximately HK$1,001 million after deduction of all
estimated expenses. The company intends to use the net proceeds in the following manner:
(i) approximately 30% for the repayment of existing indebtedness of the group; (ii)
approximately 50% for the expansion of the group's business, in particular the mobile
business in the PRC (including the development, operation and promotion of its own mobile
phone operating systems, the preparation of mobile phone business in the PRC and the
expansion of business channels); (iii) approximately 10% for the acquisition of and/or the
investment in businesses that can take advantage of the group's competitive edge when
suitable opportunities arise; and (iv) approximately 10% for the general working capital
of the group. (RC)

Remark: Real time quote last updated: 22/10/2021 08:33
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