CIMC Enric Raises HK$774 Million Through Completion of Share Placement

CIMC Enric Holdings ( (HK:3899) ) just unveiled an announcement.

CIMC Enric Holdings has completed a share placement under its existing general mandate, issuing 79.7 million new shares at HK$9.79 each to at least six independent investors, raising gross proceeds of about HK$780 million and net proceeds of approximately HK$774 million. The new shares represent around 3.77% of the enlarged issued share capital (excluding treasury shares), no placee became a substantial shareholder, and the transaction leaves the company with capacity to issue a further 325.96 million shares under the mandate, strengthening its capital base without materially altering its ownership structure.

The most recent analyst rating on (HK:3899) stock is a Buy with a HK$12.00 price target. To see the full list of analyst forecasts on CIMC Enric Holdings stock, see the HK:3899 Stock Forecast page.

More about CIMC Enric Holdings

CIMC Enric Holdings Limited is a Hong Kong-listed company incorporated in the Cayman Islands, operating in the industrial and equipment manufacturing sector and focusing on energy, chemical and related logistics equipment and services. Its shares are traded on the Main Board of the Hong Kong Stock Exchange under stock code 3899, and it raises capital periodically through equity placements under a general mandate granted by shareholders.

Average Trading Volume: 5,288,413

Technical Sentiment Signal: Buy

Current Market Cap: HK$21.85B

For detailed information about 3899 stock, go to TipRanks’ Stock Analysis page.