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GoFintech Innovation Limited ( (HK:0290) ) has provided an announcement.
GoFintech Quantum Innovation Limited has completed a connected transaction involving the capitalisation of shareholder loans into equity, issuing 458,769,789 new shares to lender and major shareholder Dr. Liu Zhiwei under a specific mandate at HK$1.28 per share. The HK$587.225 million consideration for these new shares was settled by offsetting an equivalent repayment amount owed by the group, reducing the company’s debt under the relevant loan agreements to HK$80 million and modestly diluting existing shareholders. Following the transaction, Dr. Liu’s stake increased from 17.49% to 21.46% of the enlarged share capital, while the total number of issued shares rose to 9,558,684,080, consolidating his position as the largest shareholder and reinforcing the company’s capital base without a cash outlay.
The most recent analyst rating on (HK:0290) stock is a Hold with a HK$2.00 price target. To see the full list of analyst forecasts on GoFintech Innovation Limited stock, see the HK:0290 Stock Forecast page.
More about GoFintech Innovation Limited
GoFintech Quantum Innovation Limited, incorporated in the Cayman Islands and listed in Hong Kong under stock code 290, operates in the broader fintech and technology investment space. Through various capital market activities, including share issuances and employee share schemes, the company appears focused on strengthening its capital structure while aligning management and staff incentives with long-term shareholder value.
Average Trading Volume: 8,363,570
Technical Sentiment Signal: Buy
Current Market Cap: HK$18.29B
See more data about 0290 stock on TipRanks’ Stock Analysis page.