Forgame Holdings Ltd. Expands Business with New Share Placement

Forgame Holdings Ltd. ( (HK:0484) ) just unveiled an announcement.

Forgame Holdings Ltd. announced a supplemental plan to place new shares under a general mandate, aiming to raise approximately HK$14.90 million in net proceeds. The funds will be used to upgrade production facilities and for general working capital. The company is expanding its business scope by establishing a new fund management business through its subsidiary, Foga Investment Limited, which recently obtained licenses for advising on securities and asset management. The move is intended to broaden the shareholder base, comply with regulatory capital requirements, and ensure the growth of its original business is not hindered.

More about Forgame Holdings Ltd.

Forgame Holdings Ltd. operates in the gaming and technology industry, primarily focusing on developing and publishing web and mobile games, as well as trading electronic devices and semiconductors in China and other countries.

YTD Price Performance: -27.00%

Average Trading Volume: 35

Technical Sentiment Signal: Buy

Current Market Cap: €11.56M

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