HSC Resources group completes rights issue and placing, raises HK$73.27m

HSC Resources Group Limited (formerly Windmill Group Limited) successfully completed its rights issue, raising approximately HK$73.27 million in gross proceeds. The rights issue, based on four rights shares for every one adjusted share at HK$0.53 per rights share, saw 34,230,326 rights shares accepted, representing 24.76% of the total offered. The remaining 104,009,674 unsubscribed rights shares were successfully placed at HK$0.53 per share, bringing the total allotted rights shares to 138,240,000.

Net proceeds, after deducting related expenses, amounted to approximately HK$69.80 million. The company plans to allocate HK$59.33 million (85% of net proceeds) to support its projects, with HK$52.35 million for contractor payments in current projects, HK$1.75 million for subcontractor/supplier prepayments, and HK$5.23 million for initial startup costs of forthcoming projects.

The remaining HK$10.47 million (15% of net proceeds) will be used for general working capital, covering approximately HK$8.38 million for staff costs and HK$2.09 million for other office overhead. Share certificates are expected to be posted by September 25, 2025, with dealings in fully-paid rights shares commencing on the Stock Exchange at 9:00 a.m. on September 26, 2025.