China Automotive Interior Decoration Raises HK$32 Million via Undersubscribed Rights Issue

China Automotive Interior Decoration Holdings Limited ( (HK:0048) ) just unveiled an announcement.

China Automotive Interior Decoration Holdings has completed a heavily undersubscribed rights issue of three rights shares for every two existing shares, with only 43.7% taken up by qualifying shareholders and the remaining 56.3% successfully placed to independent investors at HK$0.13 per share, matching the subscription price and generating no compensatory net gain for non-participating shareholders. All conditions of the offer have been fulfilled, raising gross proceeds of about HK$34.1 million (net HK$32.0 million), of which roughly HK$30.5 million will fund new property, plant and machinery for PRC production lines by the first half of 2027 and the balance will support working capital, while the enlarged share base has significantly diluted director holdings and increased the free float, with independent placees now holding about one-third of the company’s shares.

The most recent analyst rating on (HK:0048) stock is a Hold with a HK$0.16 price target. To see the full list of analyst forecasts on China Automotive Interior Decoration Holdings Limited stock, see the HK:0048 Stock Forecast page.

More about China Automotive Interior Decoration Holdings Limited

China Automotive Interior Decoration Holdings Limited is a Cayman Islands-incorporated company listed in Hong Kong that operates in the automotive components sector, focusing on the design and manufacture of interior decoration products for vehicles. The group’s operations and planned capital expenditures are concentrated in the People’s Republic of China, where it is investing in production lines to support future growth in its core automotive interiors business.

Average Trading Volume: 321,455

Technical Sentiment Signal: Sell

Current Market Cap: HK$59.54M

For detailed information about 0048 stock, go to TipRanks’ Stock Analysis page.