China Ecotourism Group, formerly known as China LotSynergy is seeking to raise as much as HK$220.7 million through an offer of shares to existing investors to raise capital for the group, whose lottery business has been hit hard by the Covid crisis.
The company will offer two shares for every one held at a discounted price of HK$0.10, a discount of about 30 percent to its last trading day. The group expects gross proceeds of between $80 million and $220.7 million, depending on how many investors take up their rights.
It will endeavour to place stock not taken up with other investors.
