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FAR International Holdings Group Company Limited ( (HK:2516) ) has shared an announcement.
FAR International Holdings Group Company Limited has announced a new share placement under a general mandate, involving up to 156,000,000 shares at a price of HK$0.455 each. This move is aimed at raising approximately HK$69.62 million in net proceeds, which will be used to strengthen the company’s existing logistics business and for general working capital. The placement represents a significant portion of the company’s share capital and is being conducted with the assistance of DL Securities (Hong Kong) Limited as the placing agent.
The most recent analyst rating on (HK:2516) stock is a Hold with a HK$0.50 price target. To see the full list of analyst forecasts on FAR International Holdings Group Company Limited stock, see the HK:2516 Stock Forecast page.
More about FAR International Holdings Group Company Limited
Average Trading Volume: 632,750
Technical Sentiment Signal: Sell
Current Market Cap: HK$420.2M
Learn more about 2516 stock on TipRanks’ Stock Analysis page.