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An update from S&T Holdings Ltd. ( (HK:3928) ) is now available.
China Next-Gen Commerce and Supply Chain Ltd. has mandated a placing agent to place up to 16,000,000 new shares with at least six independent investors at HK$8.88 per share under its existing general mandate. The placement shares will represent about 3.33% of current issued capital and 3.23% of the enlarged share base, with an application to be made for their listing on the Hong Kong Stock Exchange.
The offer price reflects a discount of roughly 19% to the last closing price and about 18.8% to the recent five-day average, implying a near-HK$140.75 million net fundraising if fully placed, at a net issue price of about HK$8.80 per share. The transaction, conducted on a best-effort basis and subject to conditions, is set to provide fresh equity capital while modestly diluting existing shareholders, and the company has cautioned investors that the placing may or may not proceed.
The most recent analyst rating on (HK:3928) stock is a Hold with a HK$5.00 price target. To see the full list of analyst forecasts on S&T Holdings Ltd. stock, see the HK:3928 Stock Forecast page.
More about S&T Holdings Ltd.
China Next-Gen Commerce and Supply Chain Ltd., incorporated in the Cayman Islands and listed in Hong Kong, operates in the commerce and supply chain sector. The company focuses on next-generation trading and logistics solutions, leveraging capital markets to support its growth and operational needs in its chosen market segments.
Average Trading Volume: 397,534
Technical Sentiment Signal: Buy
Current Market Cap: HK$5.28B
See more data about 3928 stock on TipRanks’ Stock Analysis page.