Hongte Technology announced that the company has launched a rights issue via agency sales, based on a total share capital of 387 million shares, offering 4 rights shares for every 10 existing shares to all shareholders, with a total of 155 million shares available for subscription. The rights issue is expected to raise no more than 650 million yuan, which will be used for the construction of an auto parts production base in Thailand, technical upgrades at the Zhaoqing production base, construction of the headquarters R&D center, and replenishment of working capital.
Guangdong Hongteo Accurate Technology Co LtdRights issue dilutes existing shareholders and raises capital for expansion.
