Hong Kong-listed company Xinhuo Technology raised more than HK$270 million through a rights issue to five subscribers

Odaily News Hong Kong-listed company Xinhuo Technology (01611.HK) announced that it will issue a total of 166 million subscription shares to five subscribers, equivalent to 22.08% of the company's enlarged share capital. The subscription price per share is HK$1.66, a discount of 29.66% from the closing price of HK$2.36 on June 27. The total amount of funds raised is HK$275.6 million.
Major shareholder Avenir Investment (Subscriber I) increased its shareholding in the Company from 29.08% to 29.84%;
LINEX Holdings Ltd. (Subscriber II) will subscribe for HK$124 million, becoming the largest subscriber in this round, with a shareholding ratio of 10%. ;
TX Capital Holdings Ltd. (Subscriber III) will hold 1%;
Night Wood (Subscriber IV), which is indirectly wholly owned by Executive Director Zhang, will hold 3.43%;
Rosen Holdings Ltd. (Subscriber V) will hold 0.48% of the shares. (Yahoo Finance)