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Alco Holdings ( (HK:0328) ) has issued an announcement.
Alco Holdings Limited announced the results of its Rights Issue, which offered 45,822,744 Rights Shares at HK$3.24 per share. The Rights Issue was significantly undersubscribed, with only 16.36% of the shares accepted, leaving 38,326,202 shares unsubscribed. The company plans to place these unsubscribed shares with independent Placees through a Placing Agreement. The outcome of this arrangement will impact the company’s financial position and shareholder value, as any premium gained will be distributed to certain shareholders. Shareholders and investors are advised to exercise caution due to the conditional nature of the Rights Issue and Placing.
The most recent analyst rating on (HK:0328) stock is a Hold with a HK$2.50 price target. To see the full list of analyst forecasts on Alco Holdings stock, see the HK:0328 Stock Forecast page.
More about Alco Holdings
Alco Holdings Limited is a company incorporated in Bermuda, operating in the financial sector with a focus on stock exchanges. It is listed on the Hong Kong Stock Exchange under the stock code 328.
Average Trading Volume: 749,046
Technical Sentiment Signal: Sell
Current Market Cap: HK$158.1M
For a thorough assessment of 0328 stock, go to TipRanks’ Stock Analysis page.