BeijingWest International (HK:2339) has released an update.
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BeijingWest Industries International Limited announces a proposed Rights Issue to raise approximately HK$48.2 million by offering one Rights Share for every two shares held at HK$0.168 per Rights Share. The Rights Issue, which is not subject to a minimum subscription level and will proceed non-underwritten, is intended to provide additional capital without the need for shareholder approval as it does not significantly dilute share value or increase market capitalization by over 50%. Eligible shareholders will be determined during the register closure from September 17 to September 24, 2024, with details to follow in the Prospectus Documents.
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