China Castson 81 Finance Rights Issue Undersubscribed, Unplaced Shares to Be Compensatorily Placed

China Internet Investment Finance Holdings Ltd. ( (HK:0810) ) has issued an announcement.

China Castson 81 Finance Company Limited reported the results of its rights issue, launched at HK$0.102 per share on the basis of five rights shares for every two existing shares. Of the 509,107,967 rights shares offered, shareholders submitted 15 valid acceptances for 273,262,978 shares, or about 53.7 percent of the total.

This left 235,844,989 shares, or roughly 46.3 percent, unsubscribed, which will be dealt with under compensatory arrangements via a placing of the unsubscribed and any employee scheme unsold rights shares to independent investors. Any premium over the subscription price achieved in the placing will be distributed on a pro-rata basis to eligible non-participating shareholders, while any remaining balance not placed will be underwritten by major shareholder Goodchamp, helping to secure the company’s capital-raising objectives despite the undersubscription.

The most recent analyst rating on (HK:0810) stock is a Hold with a HK$0.12 price target. To see the full list of analyst forecasts on China Internet Investment Finance Holdings Ltd. stock, see the HK:0810 Stock Forecast page.

More about China Internet Investment Finance Holdings Ltd.

China Castson 81 Finance Company Limited is a Bermuda-incorporated company listed in Hong Kong, operating in the financial services sector. The group focuses on investment and finance-related activities, targeting investors in the Hong Kong market through equity fundraising and capital market transactions.

Average Trading Volume: 1,508,510

Technical Sentiment Signal: Sell

Current Market Cap: HK$92.66M

Find detailed analytics on 0810 stock on TipRanks’ Stock Analysis page.