Chuangsheng Holdings (02680.HK) announced on September 26 that the board of directors proposed to implement a stock consolidation, with a benchmark of every ten (10) shares of existing shares in the company's share capital consolidated into one (1) share of consolidated shares. The stock consolidation must be approved by the shareholders in a special general meeting by way of vote before implementation. After the stock consolidation takes effect, the existing trading unit of 2,000 shares per lot will remain unchanged.

The company proposes to raise a total amount of up to approximately 12 million Hong Kong dollars (before deducting expenses) through a rights issue. The funding method involves issuing a maximum of 20 million shares of rights shares (assuming no further issuance or repurchase of shares before the record date, and all rights shares will be subscribed). The subscription price for each rights share is 0.60 Hong Kong dollars, with a benchmark that for every two (2) consolidated shares held by eligible shareholders at the end of the business hours on the record date, one (1) rights share will be issued. The rights issue is only applicable to eligible shareholders and will not be offered to excluded shareholders, if any.