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Enterprise Development Holdings Limited ( (HK:1808) ) has issued an update.
Enterprise Development Holdings Limited has agreed a conditional share placing with an independent placing agent to issue up to 48,970,000 new shares under its existing general mandate at HK$1.08 per share. The new shares would represent about 20% of the current issued share capital and roughly 16.66% of the enlarged capital base, with at least six independent placees to be procured on a best-effort basis.
The placing price reflects a discount of about 19.4% to the latest closing price and 16.8% to the five-day average, and is expected to raise gross proceeds of around HK$52.89 million and net proceeds of about HK$52.27 million. The transaction, which the board considers fair and reasonable given current market conditions, will provide additional capital but remains subject to conditions in the placing agreement, so shareholders and investors are cautioned that the placing may or may not proceed.
More about Enterprise Development Holdings Limited
Enterprise Development Holdings Limited is a Hong Kong-listed company incorporated in the Cayman Islands and traded on the Main Board under stock code 1808. The group operates in the broader enterprise and investment sector, raising capital periodically through equity placements to fund its business activities and strengthen its financial position in the market.
Average Trading Volume: 164,445
Technical Sentiment Signal: Sell
Current Market Cap: HK$335.5M
See more data about 1808 stock on TipRanks’ Stock Analysis page.