XJ International eyes HK$205.62m rights issue

XJ International Holdings Co., Ltd. announced a proposed rights issue to raise up to HK$205.62 million by issuing one rights share for every eight shares held. The proceeds are intended for redeeming outstanding convertible bonds as part of a restructuring proposal.

The rights issue is fully underwritten by Hope Education Investment Limited, which is considered a connected person, necessitating a whitewash waiver application. Independent shareholders will vote on the proposals.

The company also appointed Vinco Financial Limited as the independent financial adviser to advise the board committee and independent shareholders.