Guangdong - Hong Kong Greater Bay Area Holdings (HKG:1396) is looking to raise up to HK$62.4 million through the issue of about 271.4 million rights shares, according to a Friday filing with the Hong Kong bourse.

The right issue price is HK$0.23 per share. One share will be issued for every two existing shares. The issue will amount to 33.33% of the enlarged share capital.

The company's stocks were down by over 8% at Monday's closing.

Price (HKD): $0.38, Change: $-0.035, Percent Change: -8.43%