Macau Lijun plans to conduct a rights issue on the basis of "2 for 1"

Macau Li Jun(01680) issued an announcement that the company proposed to issue 3.100 million rights shares (assuming there is no change in the number of issued shares on or before the record date, the total proceeds raised up to approximately HK$93 million. The rights issue is only for eligible shareholders and will not be extended to unqualified shareholders.
The net proceeds from the rights issue, after deducting expenses, are estimated to be approximately HK$86.9 million (assuming there was no change in the number of shares issued on or before the record date). The company intends to use the net proceeds from the rights issue as general working capital, including approximately HK$30 million to pay existing trade and other payables; approximately HK$17 million to pay existing property tax payables; and the remaining portion to pay interest and general operating expenses.