Space Group’s Rights Issue Faces Under-Subscription

Space Group Holdings Limited (HK:2448) has released an update.

Space Group Holdings Limited reported a mere 5.05% subscription rate for its recent Rights Issue, leaving 94.95% of the shares unsubscribed. In response to the under-subscription, the company has initiated compensatory arrangements, including a Placing to independent placees at no less than the subscription price. The Placing is set to occur between June 12 and June 19, 2024, with any net gains to be proportionally distributed to the shareholders who did not take action, subject to the conditions outlined in the company’s prospectus.

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