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Qidian International Co., Ltd. ( (HK:1280) ) just unveiled an announcement.
China Qidian Guofeng Holdings Limited has agreed to convert an outstanding, interest-free shareholder loan of RMB5,057,000, originally advanced in 2017 by China Ruike Investment & Development Co., Ltd., into equity through the issuance of 1,975,000 new shares under its existing general mandate. The shares, representing about 0.10% of the company’s enlarged share capital, will be issued at HK$2.84 per share, a discount to recent market prices, in full and final settlement of all sums owed to the creditor, thereby reducing debt and slightly diluting existing shareholders while strengthening the company’s capital structure and aligning the creditor more closely as an equity holder.
The most recent analyst rating on (HK:1280) stock is a Sell with a HK$3.50 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, is a public company whose shares trade on the Main Board of the Stock Exchange of Hong Kong under stock code 1280. The announcement centers on its capital structure and financing arrangements involving a major shareholder-creditor, highlighting its use of equity issuance tools available under a general mandate to manage balance sheet liabilities.
Average Trading Volume: 780,986
Technical Sentiment Signal: Hold
Current Market Cap: HK$6.47B
For detailed information about 1280 stock, go to TipRanks’ Stock Analysis page.