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CIMC Enric Holdings ( (HK:3899) ) has shared an update.
CIMC Enric Holdings has entered into a placing agreement to issue up to 79.7 million new shares, representing about 3.92% of its existing issued share capital (excluding treasury shares), under its existing general mandate. The shares will be placed to at least six independent investors at HK$9.79 per share, reflecting a discount of around 6–9% to recent market prices, and are expected to raise approximately HK$780 million in gross proceeds and HK$774 million in net proceeds for the company, strengthening its capital base and funding future business needs without requiring additional shareholder approval.
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. Its shares are traded on the Main Board of the Stock Exchange of Hong Kong under stock code 3899, and it raises capital from international and local institutional investors through equity placements under general mandates.
YTD Price Performance: 13.02%
Average Trading Volume: 4,045,352
Technical Sentiment Signal: Buy
Current Market Cap: HK$21.68B
See more data about 3899 stock on TipRanks’ Stock Analysis page.