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An update from Guan Chao Holdings Limited ( (HK:1872) ) is now available.
Guan Chao Holdings Limited has announced a supplemental update regarding the placement of new shares and the change in use of proceeds from a rights issue. The company plans to allocate the estimated net proceeds of approximately HK$383.96 million from the share placement to various business initiatives: 20% to support chip production, 19% for potential investment in an anion exchange membrane business, 25% for hair growth product production and distribution, 12% for marketing initiatives, and 24% to enhance working capital. This strategic allocation is aimed at strengthening the company’s operational capabilities and market positioning.
More about Guan Chao Holdings Limited
Average Trading Volume: 2,246,711
Technical Sentiment Signal: Buy
Current Market Cap: HK$2.29B
Find detailed analytics on 1872 stock on TipRanks’ Stock Analysis page.