According to the Zhitong Finance App, Yiju Enterprise Holdings (02048) issued an announcement to offer 2,099 billion shares according to “10 for 12”, accounting for 120% of the issued shares. HK$0.23 per share was discounted by approximately 20.69% from the closing price of HK$0.29 per share as reported by the Stock Exchange on the last trading day. Net raise of HK$465 million. Since the company plans to restructure old notes and convertible stock notes under the new plan, the company plans to fund the cash costs involved in the new plan with the total net proceeds from the share offering.