Macau Legend proposes HK$93m rights issue to boost financial position

Macau Legend Development Limited plans to raise gross proceeds of up to HK$93.0 million through a rights issue, issuing 310,059,356 rights shares at HK$0.3 per share, on the basis of one rights share for every two existing shares. The estimated net proceeds of approximately HK$86.9 million will be used for general working capital, including HK$30 million for trade payables, HK$17 million for property tax, and the remainder for interest payments and operating expenses.

The rights issue is fully underwritten by Platinum Broking and East Asia Securities. Key shareholders, Mr. Li and Elite Success, have irrevocably undertaken to subscribe for their full provisional entitlements, totaling 85,557,947 rights shares. The subscription price represents significant discounts to recent market prices and the company’s net asset value.

The register of members will close from October 23, 2025, to October 30, 2025, to determine entitlements. Shareholders are cautioned about dealing in existing and nil-paid rights shares, as the issue is conditional and may not proceed if underwriting terms are not met.