Hang Yick Holdings Company Limited (HK:1894) has released an update.
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Hang Yick Holdings Company Limited, listed on the Hong Kong Stock Exchange, has announced a change in the allocation of its unutilised IPO proceeds of approximately HK$47.7 million. The company’s board has decided to redirect funds, with significant portions now earmarked for debt settlement, preliminary site expenses, and bolstering general working capital, expected to be fully utilized by the end of 2024. This strategic move aims to optimize the company’s production capacity and facility operations, with full utilization of certain funds extended to March 2025.
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