China Hanking to Raise HK$167 Million via Discounted Share Subscription

The latest update is out from China Hanking Holdings Ltd. ( (HK:3788) ).

China Hanking Holdings Limited has entered into separate subscription agreements with four investors to issue and allot a total of 43.96 million new shares under its general mandate at HK$3.80 per share, representing discounts of about 18.28%, 16.19% and 2.21% to the latest, 5-day and 30-day average closing prices respectively. The subscription shares represent roughly 2.16% of the company’s existing issued share capital and about 1.96% of its enlarged share capital after both this subscription and an accompanying placing of new shares, and are expected to raise gross proceeds of around HK$167.05 million (net approximately HK$164.76 million), providing additional equity capital that may bolster the company’s balance sheet and financial flexibility with limited dilution to existing shareholders, as each subscription completion is independent of the others.

The most recent analyst rating on (HK:3788) stock is a Hold with a HK$5.00 price target. To see the full list of analyst forecasts on China Hanking Holdings Ltd. stock, see the HK:3788 Stock Forecast page.

More about China Hanking Holdings Ltd.

China Hanking Holdings Limited is a Hong Kong-listed company incorporated in the Cayman Islands, operating in the resources and mining sector with its shares traded on the Main Board of the Hong Kong Stock Exchange under stock code 03788. The group focuses on developing its business prospects through capital market transactions, including share subscriptions and placings, to support its ongoing operations and growth plans.

Average Trading Volume: 3,154,192

Technical Sentiment Signal: Buy

Current Market Cap: HK$9.28B

For an in-depth examination of 3788 stock, go to TipRanks’ Overview page.