CMIC Ocean En-Tech Holding Co (HK:0206) has released an update.
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CMIC Ocean En-Tech Holding Co. has announced a significant share subscription agreement with a subscriber, involving the issuance of 1.62 billion shares at HK$0.20 each, totaling HK$324.34 million. This transaction, which will increase the subscriber’s stake and trigger a mandatory offer unless a whitewash waiver is granted, highlights a strategic move to bolster its capital structure. The company has applied for the necessary stock exchange listing approvals to execute this plan.
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