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An announcement from Add New Energy Investment Holdings Group Ltd. ( (HK:2623) ) is now available.
Add New Energy Investment Holdings Group Limited has announced a non-underwritten rights issue to raise gross proceeds of approximately HK$504.4 million by offering up to 175,143,264 new shares at HK$2.88 each on the basis of one rights share for every two existing shares held by qualifying shareholders on the record date. Assuming full subscription and no change in share capital before the record date, the company expects net proceeds of about HK$503.4 million, which it plans to use to pursue suitable acquisition and investment opportunities and to supplement working capital; the rights shares will rank equally with existing shares, and major shareholder Prominence Investment and executive director Mr. Ng have given irrevocable undertakings to fully subscribe to their respective entitlements, supporting the success and stability of the fundraising.
The most recent analyst rating on (HK:2623) stock is a Hold with a HK$4.50 price target. To see the full list of analyst forecasts on Add New Energy Investment Holdings Group Ltd. stock, see the HK:2623 Stock Forecast page.
More about Add New Energy Investment Holdings Group Ltd.
Add New Energy Investment Holdings Group Limited is a Hong Kong-listed company (stock code: 02623) incorporated in the Cayman Islands with limited liability. The announcement does not specify its business operations, industry segment, or principal products and services, and focuses solely on a proposed capital-raising exercise via a rights issue.
Average Trading Volume: 1,508,332
Technical Sentiment Signal: Buy
Current Market Cap: HK$1.54B
For detailed information about 2623 stock, go to TipRanks’ Stock Analysis page.