V&V TECH (08113) proposes to issue shares using a "2 for 1" benchmark, raising a maximum net amount of approximately HK$31.9 million.

V&V TECH (08113) announced that the board of directors proposed to issue a maximum of approximately 72.6812 million shares of rights shares at a price of HK$0.450 per share based on a "2 for 1" basis. This represents a premium of approximately 1.12% over the closing price of HK$0.445 per share on the last trading day on the Stock Exchange. Assuming full subscription of the rights shares, the net proceeds will be approximately HK$31.9 million, with approximately 50% to be used for expanding the IDH solution product line, approximately 40% for repayment of outstanding bank loans, and 10% for general working capital of the group.