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China Tianbao Group Announces New Share Subscription to Offset Debt

Story Highlights
  • China Tianbao plans to issue 68,480,000 new shares to offset a significant debt.
  • The subscription aims to strategically manage liabilities and strengthen financial position.
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China Tianbao Group Announces New Share Subscription to Offset Debt

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The latest announcement is out from China Tianbao Group Development Company Limited ( (HK:1427) ).

China Tianbao Group Development Company Limited has announced a supplemental agreement for the subscription of new shares under a general mandate. The company plans to issue 68,480,000 new shares at a price of HK$0.408 per share, primarily to offset an outstanding debt of approximately US$39,789,000 owed to the subscriber. The net proceeds from the subscription, estimated at HK$27,817,000, will be used to partly settle this debt. This financial maneuver aims to strategically manage the company’s liabilities and strengthen its financial position by reducing its debt burden. The subscriber, a British Virgin Islands-based investment holding company, is managed by Asia Debt Management Hong Kong Limited, which is independent of the company and its connected persons.

More about China Tianbao Group Development Company Limited

YTD Price Performance: 0.43%

Average Trading Volume: 389,706

Technical Sentiment Consensus Rating: Hold

Current Market Cap: HK$187M

For detailed information about 1427 stock, go to TipRanks’ Stock Analysis page.

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