China Rare Earth Holdings Announces Share Subscription to Raise HK$15.5 Million

China Rare Earth Holdings ( (HK:0769) ) has shared an announcement.

China Rare Earth Holdings has announced a subscription agreement to issue 48,750,000 new shares at a price of HK$0.32 each, representing a discount to the recent trading prices. This move is expected to raise approximately HK$15.5 million in net proceeds, which will be used for the company’s working capital. The issuance will slightly increase the company’s share capital by about 2%, but the subscriber will not become a substantial shareholder.

More about China Rare Earth Holdings

YTD Price Performance: -3.33%

Average Trading Volume: 28,926

Technical Sentiment Signal: Hold

Current Market Cap: $120.8M

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