Tomo Holdings completes rights issue, secures HK$39.5m net proceeds

Tomo Holdings Limited announced the successful completion of its rights issue, raising approximately HK$40.5 million in gross proceeds and HK$39.5 million in net proceeds after expenses. The rights issue offered one rights share for every two existing shares. The remaining unsubscribed shares were successfully placed at HK$0.18 per share through compensatory arrangements, resulting in no net gain for no-action shareholders.

The net proceeds of HK$39.5 million will be strategically allocated to support the company's growth. Approximately HK$22.5 million (57.0%) is earmarked for upgrading and expanding the motor vehicle trading business, while HK$10.2 million (25.8%) will enhance the electronic accessories and upholstery business. An additional HK$3.0 million (7.6%) is designated for increased operational costs and as a contingency for market risks, with the remaining HK$3.8 million (9.6%) allocated to general working capital, expected to be utilized by March 2026.

Following the rights issue, the company's total shares increased from 450,000,000 to 675,000,000. Mr. Lu Yongde's stake remains at 51.13% (345,150,000 shares), while existing public shareholders now hold 36.68% (247,567,159 shares), and independent placees account for 12.19% (82,282,841 shares). Share certificates are expected to be despatched on Friday, 10 October 2025, with dealings in fully-paid rights shares commencing on Monday, 13 October 2025.