Claim 70% Off TipRanks Premium
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
The latest update is out from China Energy Development Holdings Limited ( (HK:0228) ).
China Energy Development Holdings Limited has completed an over-subscribed rights issue, receiving valid applications for approximately 100.78% of the 152,066,800 rights shares on offer, generating gross proceeds of about HK$238.7 million and net proceeds of roughly HK$236.7 million. The strong subscription, including substantial take-up by Alpha Eagle Limited and its concert parties, has triggered mandatory unconditional cash offers for all issued shares and outstanding convertible bonds not already owned by the offeror group, potentially consolidating control and reshaping the company’s shareholder structure while providing fresh capital for its future operations.
The most recent analyst rating on (HK:0228) stock is a Hold with a HK$1.50 price target. To see the full list of analyst forecasts on China Energy Development Holdings Limited stock, see the HK:0228 Stock Forecast page.
More about China Energy Development Holdings Limited
China Energy Development Holdings Limited is a Hong Kong-listed company (stock code: 228) incorporated in the Cayman Islands. It operates in the energy sector and has attracted involvement from investment entities such as Alpha Eagle Limited and financial advisers including Cinda International Capital and Rainbow Capital, indicating a capital-markets-focused strategy to support its development and restructuring activities.
Average Trading Volume: 267,990
Technical Sentiment Signal: Sell
Current Market Cap: HK$438M
Find detailed analytics on 0228 stock on TipRanks’ Stock Analysis page.