Huoyan Holdings intends to issue shares on the basis of "2 for 1"

Fire Rock Holdings (01909) issued an announcement that the company proposes to raise up to HK$152 million (before expenses) by issuing rights shares to qualified shareholders at a subscription price of HK$1.58 per rights share on the basis of 1 rights share for every 2 shares held on the record date (Assuming there is no change in the company's issued share capital on or before the record date and all eligible shareholders have taken up all of their respective rights shares allotted). The rights issue will not be submitted to unqualified shareholders. The net proceeds from the rights issue (after deducting estimated expenses) are expected to be approximately HK$151 million (assuming there is no change in the company's issued share capital on or before the record date and all eligible shareholders take up all of their respective rights shares allotted). The estimated net subscription price per rights share (after deducting rights-related expenses) is expected to be approximately HK$1.57.