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Qidian International Co., Ltd. ( (HK:1280) ) has provided an update.
China Qidian Guofeng Holdings Limited has completed a debt capitalisation transaction in which it issued 1,975,000 new shares under its general mandate to creditor China Ruike at an issue price of HK$2.84 per share, fully settling outstanding indebtedness of RMB5,057,000. The settlement shares, valued at approximately HK$5,609,000 after exchange-rate adjustment, represent about 0.1023% of the company’s existing share capital and about 0.1022% of its enlarged share capital, allowing the group to extinguish debt without raising new cash proceeds and slightly diluting existing shareholders while improving its balance sheet by converting liabilities into equity.
The most recent analyst rating on (HK:1280) stock is a Sell with a HK$2.50 price target. To see the full list of analyst forecasts on Qidian International Co., Ltd. stock, see the HK:1280 Stock Forecast page.
More about Qidian International Co., Ltd.
China Qidian Guofeng Holdings Limited, incorporated in the Cayman Islands and listed in Hong Kong, operates through its subsidiaries as an investment holding group, with its shares traded under stock code 1280. The company engages in corporate financing activities including share issuances under general mandates as part of its capital management and balance-sheet restructuring efforts.
Average Trading Volume: 771,349
Technical Sentiment Signal: Sell
Current Market Cap: HK$5.25B
Find detailed analytics on 1280 stock on TipRanks’ Stock Analysis page.