Jade Technologies Holdings has proposed a one-for-two rights issue of up to 566,591,364 new ordinary shares at an issue price of $0.01 each - a 75 per cent discount to the last transacted share price of $0.04. The net proceeds of $5.4 million will be used partly to fund the redemption of corporate bonds when they fall due as part of Jade's proposed acquisition of a 20 per cent stake in Daqing XinLong Chemical Company for 36 million yuan (S$7.7 million).
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