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China Shenghai Group Limited ( (HK:1676) ) has provided an update.
Gaodi Holdings Limited has completed a placing of 39,184,000 new shares under its general mandate, increasing its issued share capital to 258,430,857 shares, with the new shares representing about 15.16% of the enlarged share base. The placing, conducted at HK$0.52 per share to at least six independent investors, raised net proceeds of approximately HK$20 million, which the company plans to deploy by December 2026, allocating roughly half to its existing food business, 30% to its food and beverage operations, and the balance to general working capital; no placee has become a substantial shareholder, though public shareholders’ aggregate stake has been diluted, and the transaction strengthens the company’s capital base to support ongoing operations and growth.
More about China Shenghai Group Limited
Gaodi Holdings Limited, listed in Hong Kong, operates in the food and food and beverage sectors. The group focuses on its existing food business and food and beverage business, indicating a consumer-oriented market presence within these industries.
Average Trading Volume: 8,591,559
Technical Sentiment Signal: Buy
Current Market Cap: HK$142.5M
Find detailed analytics on 1676 stock on TipRanks’ Stock Analysis page.