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The latest update is out from CROSSTEC Group Holdings Ltd. ( (HK:3893) ).
CROSSTEC Group Holdings Ltd., a Cayman Islands–incorporated company listed in Hong Kong, announced the conversion of part of its outstanding convertible bonds, resulting in an increase in issued share capital and a change in its shareholder structure.
The company reported that MKI has converted HK$3.3 million of its convertible bonds into 30 million shares at HK$0.11 per share, raising CROSSTEC’s issued shares from 266,624,000 to 296,624,000. The new conversion shares represent about 10.11% of the enlarged share capital, and MKI’s stake has risen from 20.52% to 28.55%, consolidating its position as the largest shareholder while slightly diluting other public shareholders’ interests.
The most recent analyst rating on (HK:3893) stock is a Sell with a HK$0.96 price target. To see the full list of analyst forecasts on CROSSTEC Group Holdings Ltd. stock, see the HK:3893 Stock Forecast page.
More about CROSSTEC Group Holdings Ltd.
Average Trading Volume: 442,911
Technical Sentiment Signal: Hold
Current Market Cap: HK$240.2M
See more insights into 3893 stock on TipRanks’ Stock Analysis page.