China Water Industry Group Limited has announced a change in the use of proceeds from its recent rights issue. Originally outlined in their December 2024 prospectus, the net proceeds amounting to approximately HK$90.10 million were intended for specific allocations: about 75% for debt repayment, 17% for investment in a biomass gas project, and 8% for general working capital. As of now, approximately HK$75.1 million has been utilized following this plan, leaving around HK$15.0 million in remaining net proceeds. The Board has decided to alter the use of these remaining funds to better deploy financial resources, ensuring it aligns with the interests of the company and its shareholders, while maintaining no adverse effects on current operations. Shareholders are advised to exercise caution when dealing with company shares.
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