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The latest update is out from Century City International Holdings Limited ( (HK:0355) ).
Century City International Holdings Limited, through its subsidiary Cosmopolitan, is involved in a financial transaction involving the placement of new shares. This transaction is part of a strategy to raise capital, with the placement price set at a discount compared to recent trading prices. The placement of up to 100 million shares is expected to generate gross proceeds of approximately HK$10.8 million. This move will result in a dilution of Century City’s stake in Cosmopolitan from 70.30% to 65.06%, constituting a deemed disposal under the Listing Rules. Despite this dilution, Cosmopolitan will remain a non-wholly owned subsidiary of Century City, with its financial results continuing to be consolidated into Century City’s accounts.
More about Century City International Holdings Limited
Average Trading Volume: 21,238,431
Technical Sentiment Signal: Sell
Current Market Cap: HK$197.9M
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