Zhitong Finance App News, Yu Rong Group (01536.HK) announced that the company proposes to issue up to 1,368 billion shares according to the “1 for 3” benchmark, at HK$0.1 per share, a discount of about 27.01% from the closing price of HK$0.137 per share reported on the Stock Exchange on the last trading day. The maximum net proceeds from the share offering were approximately HK$135 million, or about 17.1% to settle deferred payments; approximately 17.3% to cover the exercise price of the exercise of the subscription option; about 29.8% for the target company's business development; about 3.7% for expanding business operations to investment properties held by the target company after the expiration of the existing lease; and approximately 32.1% for the Group's general working capital (including but not limited to rent expenses, salary expenses, professional expenses and other business/operating expenses).

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