Crown International Updates Subscription Price of Rights Issue

Crown International (HKG:0727) disclosed some corrections regarding its proposed one-for-two rights issue on a non-underwritten basis filed with the bourse on Sept. 9.

The company clarified that the subscription price of rights issue is HK$0.088 instead of HK$0.090 as stated in the Sept. 9 filing, a Thursday filing with the Hong Kong Exchange said.

The finance and property developer also disclosed that instead of HK$154.2 million filed earlier, the net proceeds from the rights issue should be HK$150.8 million and will be used for the capital expenditure of property development projects.

The company's shares were down over 2% in recent trade.

Price (HKD): $0.08, Change: $-0.0020, Percent Change: -2.47%