Beijing Urban Construction Design & Development Group Moves to Restore Insufficient Public Float

Beijing Urban Construction Design & Development Grp Co., Ltd Class H ( (HK:1599) ) just unveiled an update.

Beijing Urban Construction Design & Development Group has disclosed that its current public float stands at approximately 23.70%, below the 25% minimum required under Hong Kong listing rules, and outlined its latest efforts to address the shortfall. The company is engaging with minority domestic shareholders to pursue full circulation of certain domestic shares into H shares, has appointed legal advisers, and obtained verbal consent from some shareholders, with further steps contingent on completion of those shareholders’ internal governance procedures; it will continue to make monthly updates as it works to restore compliance, a process closely watched by investors given implications for liquidity and regulatory alignment.

The most recent analyst rating on (HK:1599) stock is a Hold with a HK$1.50 price target. To see the full list of analyst forecasts on Beijing Urban Construction Design & Development Grp Co., Ltd Class H stock, see the HK:1599 Stock Forecast page.

More about Beijing Urban Construction Design & Development Grp Co., Ltd Class H

Beijing Urban Construction Design & Development Group Co., Limited is a PRC-incorporated company listed in Hong Kong that operates in the urban construction and infrastructure design and development sector. Its share capital is divided into domestic shares and H shares, with a portion of the H shares held by public investors in the Hong Kong market.

Average Trading Volume: 233,987

Technical Sentiment Signal: Sell

Current Market Cap: HK$1.86B

For a thorough assessment of 1599 stock, go to TipRanks’ Stock Analysis page.