Allied Properties rights issue plan obtains 117% subscription

Allied Properties (HK) (0056) announced that the rights issue proposal of 1.45 bln shares obtained 117% subscription, which means that a total of 1.707 bln shares were issued.

Allied Properties (HK) announced in April the rights issue plan. At HK$0.25 each, 1.45 bln new shares were issued at a proportion of 1-for-2 to raise fund HK$363 mln which would be used for debt reduction and ordinary operation capital.

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