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BGMC International Ltd. ( (HK:1693) ) just unveiled an update.
BGMC International Ltd. has agreed to issue 7,489,496 new shares at HK$2.35 each under a specific mandate to a trustee acting on behalf of its trade creditors, in order to fully settle outstanding trade payables of approximately HK$17.6 million. The new shares will represent about 18.92% of the current issued share capital, or 15.91% on an enlarged basis, and the company will seek shareholder approval at an extraordinary general meeting and apply for listing of the new shares, a move that will reduce its trade debt burden while diluting existing shareholders and reshaping its capital structure.
More about BGMC International Ltd.
BGMC International Ltd. is a Hong Kong-listed company incorporated in the Cayman Islands, operating in the construction and engineering sector and serving a range of trade creditors and business counterparties in its supply chain.
Average Trading Volume: 15,372
Technical Sentiment Signal: Buy
Current Market Cap: HK$93.04M
Learn more about 1693 stock on TipRanks’ Stock Analysis page.