Zhongtong Finance App news, Hatcher Group (08365) announced that the company proposes to issue 3 new shares for every 1 share held on the record date at a subscription price of 0.250 Hong Kong dollars per share. Through the issuance of up to 0.128 billion shares (assuming no new shares have been issued or repurchased on or before the record date), raising a total amount of up to about 32.1 million Hong Kong dollars (before expenses deducted) (assuming full subscription for the rights issue); or through the issuance of up to 0.132 billion shares (assuming no new shares have been issued or repurchased on or before the record date apart from those to be issued and allocated according to yet-to-be-exercised subscription rights), raising a total amount of up to about 33 million Hong Kong dollars (before expenses deducted) (assuming full subscription for the rights issue).

The net proceeds from the rights issue are estimated to be no more than about 31.1 million Hong Kong dollars (assuming the number of shares issued has not changed on or before the record date); or about 32 million Hong Kong dollars (assuming the number of shares issued has not changed on or before the record date apart from those to be issued and allocated according to yet-to-be-exercised subscription rights). The company plans to use the proceeds from the rights issue to invest in the online gaming industry, expand its business in the industry, and as working capital for the group in the next 12 months.