CHI KINGSTONE (01380) has announced a proposal to allot and issue a total of 15.88 million subscription shares to five subscribers. The subscribers are Niu Jin Limited, Zeng Jingfeng, Sun Yijun, Zheng Yong, and Zhou Zicheng. The subscription shares represent approximately 3.17% of the company's existing issued share capital as of the announcement date. Following the completion of the issuance, the new shares will constitute about 3.07% of the enlarged issued share capital. The subscription price has been set at HK$0.57 per share. The gross proceeds from the subscription are expected to be approximately HK$9.05 million. After deducting expenses, the net proceeds are estimated to be around HK$8.9 million. The company intends to use the net proceeds for the group's general working capital requirements and for business development and expansion. This expansion may include exploring potential precious metals opportunities and potential projects in Chile.