China Kingstone Mining (HKG:1380) terminated its agreement for the proposed issue of 127,478,657 or 132,434,800 rights shares on the basis of one rights share for every two existing shares at HK$0.20 apiece.

The proposed issue was expected to raise HK$24 million in net proceeds for the company, a Monday Hong Kong bourse filing said.

The company terminated the issue, as certain conditions to the rights issue could not be fulfilled, among other factors.