China International Development Plans HK$43 Million Share Placing at Discount

An announcement from China International Development Corporation Limited ( (HK:0264) ) is now available.

China International Development Corporation Limited has entered into a placing agreement with an independent placing agent to issue up to 20 million new shares under its existing general mandate, representing about 4.33% of its current issued share capital and 4.15% of the enlarged capital. The shares will be placed to at least six independent investors at HK$2.16 per share, reflecting a discount to recent market prices, and are expected to raise gross proceeds of approximately HK$43.2 million (net HK$42.06 million), providing additional funding while modestly diluting existing shareholders, although completion remains conditional and may not proceed.

The most recent analyst rating on (HK:0264) stock is a Hold with a HK$2.50 price target. To see the full list of analyst forecasts on China International Development Corporation Limited stock, see the HK:0264 Stock Forecast page.

More about China International Development Corporation Limited

China International Development Corporation Limited is a Hong Kong-listed company; the announcement relates to its capital-raising activities through the equity market, but the release does not provide details on its specific industry, products, services, or market focus.

Average Trading Volume: 1,165,056

Technical Sentiment Signal: Strong Buy

Current Market Cap: HK$1.12B

For an in-depth examination of 0264 stock, go to TipRanks’ Overview page.