LONG INV CORP (02312) has announced a proposed rights issue, offering one new share for every two existing shares held by eligible shareholders as of the record date, at a subscription price of HK$0.395 per rights share.

The initiative is designed to raise total gross proceeds of up to approximately HK$90.2 million through the issuance of roughly 228 million new shares, assuming no change in the number of issued shares prior to the record date.

After deducting all necessary costs and expenses, the estimated net proceeds from the rights issue are expected to reach about HK$89.3 million. Of this amount, around 90% will be allocated to investing in listed and unlisted securities of companies focused on the AI and Web3 sectors, while the remaining 10% will be used for general working capital requirements.