On January 16, GLONGHUI announced to China International (01871.HK) that the board of directors proposed that after certain conditions are met, a “2 for 1” share will be offered. The subscription price is HK$0.2 per share. The total amount of proceeds raised by issuing up to 200 million shares is about HK$40.0 million (before deducting expenses).

The net proceeds from the stock offering are estimated at approximately HK$38.2 million to be used to repay the Group's liabilities.