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Acme International Holdings Limited ( (HK:1870) ) has provided an update.
Acme International Holdings Limited has successfully completed the placing of new shares under a general mandate, resulting in the issuance of 124,800,000 shares. This move, which represents approximately 16.67% of the company’s enlarged share capital, raised gross proceeds of HK$17.2 million. The net proceeds of HK$16.4 million will be allocated towards the development of electricity trading and green power energy projects in the PRC, the expansion of renewable energy solutions in New Zealand, and general working capital. This strategic financial maneuver is expected to bolster Acme International’s positioning in the renewable energy sector, potentially enhancing its market presence and operational capabilities.
More about Acme International Holdings Limited
YTD Price Performance: -84.51%
Average Trading Volume: 20,515,431
Technical Sentiment Signal: Strong Buy
Current Market Cap: HK$150.4M
For a thorough assessment of 1870 stock, go to TipRanks’ Stock Analysis page.