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FDB Holdings Limited ( (HK:1826) ) has shared an announcement.
FDB Holdings Limited has disclosed that its public float has fallen to about 22.17% of its issued share capital, below the 25% minimum required under Hong Kong listing rules, after controlling shareholder Masterveyor Holdings Limited increased its stake from 56.08% to 62.09% through the acquisition of 80,070,000 shares. The company attributes the shortfall mainly to an oversight in applying rules governing who qualifies as public shareholders, but maintains there is still an open market for its shares and plans to rectify the situation through a placing of new shares; upon completion of the placing, the public float is expected to rise to approximately 35.14%, restoring compliance and easing regulatory concerns for investors and the exchange.
The most recent analyst rating on (HK:1826) stock is a Hold with a HK$0.17 price target. To see the full list of analyst forecasts on FDB Holdings Limited stock, see the HK:1826 Stock Forecast page.
More about FDB Holdings Limited
FDB Holdings Limited is a Hong Kong-listed company incorporated in the Cayman Islands whose shares are traded on the Main Board of the Stock Exchange of Hong Kong. Its shareholding structure includes controlling shareholders such as Masterveyor Holdings Limited and Wodafeng Ltd, alongside other institutional and public investors who collectively form the company’s public float under Hong Kong listing rules.
Average Trading Volume: 1,964,423
Technical Sentiment Signal: Buy
Current Market Cap: HK$219.8M
For detailed information about 1826 stock, go to TipRanks’ Stock Analysis page.