Grantham 19th November, China Wood Int (01822.HK) announced that the company proposes to issue one (1) right share for every one (1) share held on the record date, at a subscription price of 0.111 Hong Kong dollars per share, to raise approximately 45.6 million Hong Kong dollars by issuing 0.411 billion right shares to eligible shareholders.

After deducting estimated expenses, the net proceeds from the rights issue are estimated to be approximately 44.6 million Hong Kong dollars, of which (1) around 44.8% will be used for investment in China's functional food and beverage business; and (2) approximately 55.2% will be used for the group's general operating capital, including but not limited to operating costs, employee costs, rental expenses, professional fees, and other office expenses.