Summit sells rights to fund CB buy, Russia project

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By Rashmi Kumar
14 Aug 2020

Hong Kong-listed Summit Ascent Holdings, an investment holding company focused on operating resorts, is planning a rights issue worth HK$1.6bn ($206m).

It is offering between 2.70bn and 2.74bn shares on the basis of three rights shares for every two shares investors hold, selling the stock at HK$0.60 apiece. The price is a 15.38% premium to the company’s last closing price of HK$0.52 before the announcement of the transaction. It ...

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