Long Investment Corp (Long Inv Corp) has unveiled a non-underwritten rights issue aimed at raising up to HK$90.20 million. Shareholders on record as of 29 September 2026 will be offered one Rights Share for every two existing shares at a subscription price of HK$0.395 each—matching the last trading day’s close and implying a net price of HK$0.3911 after expenses.
Key terms • Rights ratio: 1 Rights Share for 2 existing shares • Subscription price: HK$0.395 per share • Maximum new shares: 228.44 million, equal to 50% of current issued capital • Gross proceeds: up to HK$90.20 million; net proceeds: approximately HK$89.30 million • Enlarged share capital: up to 685.32 million shares post-issue
Shareholder commitments Substantial shareholders Longling Capital (26.54% stake) and Innoval Capital (15.19%) have provided irrevocable undertakings: – Longling Capital will subscribe for its full entitlement of 60.63 million Rights Shares and maintain its existing stake until completion. – Innoval Capital will subscribe for its full entitlement of 34.69 million Rights Shares and may apply for up to 87.90 million Excess Rights Shares, subject to scale-back provisions to avoid triggering a mandatory takeover offer or reducing public float.
Use of proceeds Approximately 90% (HK$80.40 million) is earmarked for investments in listed and unlisted companies within the artificial intelligence and Web3 sectors by June 2027. The remaining 10% (HK$8.90 million) will fund general working capital, including directors’ fees, salaries, audit, valuation, and rental expenses.
Listing timetable highlights • Last cum-entitlement trading day: 18 September 2026 • Ex-rights trading begins: 21 September 2026 • Record Date: 29 September 2026 • Prospectus despatch: 30 September 2026 • Nil-paid Rights trading: 5–12 October 2026 • Final acceptance/payment deadline: 15 October 2026 • Results announcement: 23 October 2026 • Listing of fully-paid Rights Shares: 27 October 2026
Regulatory perspective Because the issue will not enlarge share capital or market capitalisation by more than 50% and no rights offering has occurred in the past 12 months, shareholder approval under Hong Kong listing rules is not required. The theoretical dilution effect is nil at the subscription price.
Risk considerations The offer is not underwritten and carries no minimum subscription threshold; any undersubscription will proportionally reduce the funds raised. Shareholders not taking up their entitlements may experience dilution proportional to the final uptake. The issue is conditional upon Stock Exchange approvals; if conditions are unmet, the transaction will be withdrawn.
Long Inv Corp’s last equity financing was an HK$86.40 million share placement to Innoval Capital in October 2025, now fully utilised for AI/Web3 investments and working capital. The company states it has no immediate plans for further fundraising within the next 12 months.