Greenheart Group Completes Rights Issue with Successful Placement

An announcement from Greenheart Group ( (HK:0094) ) is now available.

Greenheart Group Limited announced the results of its rights issue, which was conducted on a non-underwritten basis. The rights issue was undersubscribed by approximately 22.1%, but the unsubscribed shares were successfully placed with third-party investors. The gross proceeds from the rights issue amounted to approximately HK$33.7 million, with net proceeds of HK$31.8 million. The company plans to allocate approximately HK$23.5 million to support its New Zealand operations, particularly in relation to the realization of existing cutting rights, and HK$8.3 million for corporate-level overhead expenses. The rights issue did not alter the controlling shareholder’s percentage, but it did introduce new placees into the shareholding structure.

More about Greenheart Group

Greenheart Group Limited operates in the forestry industry, focusing on plantation forests and related operations. The company is primarily involved in the management and harvesting of forestry assets, with a significant market focus on its New Zealand division.

Average Trading Volume: 2,048,189

Technical Sentiment Signal: Hold

Current Market Cap: HK$150.3M

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