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Folangsi Co., Limited Class H ( (HK:2499) ) has shared an announcement.
Folangsi Co., Ltd. has entered into a conditional agreement with an investor to issue 14,500,000 new H shares under its existing general mandate at HK$6.02 per share, representing about 4.17% of its current share capital and 4.00% of its enlarged capital. The subscription price reflects a small discount to recent market prices and was negotiated on an arm’s-length basis.
The placement is expected to raise approximately HK$87.3 million in gross proceeds, with about HK$86.8 million in net proceeds earmarked to fund daily operations, strengthen technological innovation and digital capabilities, expand the company’s offline service network and advance its electrification-focused business layout. The deal remains subject to conditions precedent, meaning completion is not guaranteed and existing shareholders could face modest dilution if the transaction proceeds.
More about Folangsi Co., Limited Class H
Folangsi Co., Ltd. is a PRC-incorporated company listed in Hong Kong, operating through H shares and focused on providing industrial and related services, with an increasing emphasis on technological innovation, digital operations and electrification-related business development in its markets.
Average Trading Volume: 31,119
Technical Sentiment Signal: Hold
Current Market Cap: HK$2.17B
See more data about 2499 stock on TipRanks’ Stock Analysis page.