Ashurst advises Chinese marketing service provider Rego Interactive on the proposed rights issue

Global law firm Ashurst acted for Rego Interactive Co., Ltd, the issuer, in relation to its proposed rights issue to raise up to HK$100 million by issuing up to 500,000,000 rights shares by way of rights issue on the basis of one rights shares for every two shares held on the record date at the subscription price of HK$0.2 per rights shares.

The proposed rights issue is a significant fundraising activity conducted by the issuer immediately after the first twelve months of its initial public offering in Hong Kong. Part of the net proceeds to be raised from the rights issue will be used to fund the issuer's proposed acquisition which constitutes a significant strategic expansion of the issuer in 2023. Ashurst also acted as the issuer counsel on the Company's IPO and global offering in 2022.

Rego Interactive is a marketing service provider based in China, primarily engaged in marketing and promotion services such as advertisement placement and distribution services, virtual goods sourcing and delivery services, and IT solutions including mobile games, software development and maintenance services, as well as solutions on lottery-related software systems and equipment.

The transaction was led by partner Frank Bi, supported by Phiona So and Joey Lam.