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The latest announcement is out from Asia Resources Holdings Limited ( (HK:0899) ).
Asia Resources Holdings Limited, operating under the name Zhong Jia Guo Xin Holdings Company Limited, has announced a proposed rights issue to raise approximately HK$43.33 million. The rights issue will offer two rights shares for every one share held by qualifying shareholders, with the net proceeds estimated to be HK$41.16 million. This move is expected to increase the company’s issued share capital by more than 50%, requiring approval from independent shareholders. The rights shares will rank equally with existing shares and entitle holders to future dividends. The company has also arranged for a placing agent to handle any unsubscribed rights shares.
The most recent analyst rating on (HK:0899) stock is a Sell with a HK$0.50 price target. To see the full list of analyst forecasts on Asia Resources Holdings Limited stock, see the HK:0899 Stock Forecast page.
More about Asia Resources Holdings Limited
Average Trading Volume: 583,792
Technical Sentiment Signal: Sell
Current Market Cap: HK$33.09M
For an in-depth examination of 0899 stock, go to TipRanks’ Overview page.