LONG Investment Group (02312) plans to raise up to HK$90.2 million by issuing a share offering based on the “2 for 1” benchmark

According to Zhitong Finance App News, LONG Investment Group (02312) announced that the company proposes to implement a share offering at a subscription price of HK$0.395 per share on the basis that the eligible shareholders will be issued one share for every two existing shares held on the record date, to raise up to about HK$90.2 million by issuing up to 228 million shares of offered shares (assuming there is no change in the number of shares issued on or before the record date).

The net proceeds from the stock offering (after deducting all necessary costs and expenses) are estimated to be up to HK$89.3 million. Approximately 90% is used to invest in listed and unlisted securities of AI and Web3 companies; 10% is used for the company's general working capital requirements.