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Beijing Urban Construction Design & Development Grp Co., Ltd Class H ( (HK:1599) ) just unveiled an announcement.
Beijing Urban Construction Design & Development Group Co., Limited, a PRC-based urban construction design and development company listed in Hong Kong, has a share capital structure comprising 71.24% domestic shares and 28.76% H shares. Of the H shares, 23.70% are held by public investors, leaving the company below the Hong Kong Stock Exchange’s minimum public float requirement of 25 percent.
The board acknowledges the ongoing shortfall in public float and is prioritizing remedial measures, chiefly by engaging minority domestic shareholders to convert their holdings into H shares via a full-circulation program. The company has appointed legal advisers, secured verbal consent from some shareholders, plans to apply to the China Securities Regulatory Commission once internal procedures are complete, expects to finish full circulation within 12 months of application, and will issue monthly updates to keep investors informed on progress.
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 joint stock company whose H shares are listed in Hong Kong. The group operates in the urban construction and infrastructure design and development sector, serving public and commercial clients with a focus on large-scale city-building and transportation-related projects in China and potentially overseas markets.
Average Trading Volume: 245,900
Technical Sentiment Signal: Strong Sell
Current Market Cap: HK$1.82B
For detailed information about 1599 stock, go to TipRanks’ Stock Analysis page.