HKC International Unveils Share Consolidation and HK$21.8 Million Rights Issue Plan

HKC International Holdings Limited ( (HK:0248) ) has provided an update.

HKC International Holdings Limited plans to restructure its share capital by doubling its authorised share capital from HK$20 million to HK$40 million, consolidating every eight existing HK$0.01 shares into one HK$0.08 consolidated share, and changing the trading board lot size from 4,000 existing shares to 10,000 consolidated shares, all subject to shareholder approval at an extraordinary general meeting. Conditional on these steps, the company will launch a non-underwritten rights issue of up to 77.83 million new shares on the basis of one rights share for every two consolidated shares at HK$0.28 per share, to raise as much as approximately HK$21.8 million before expenses, which could significantly alter its capital base and shareholding structure while potentially providing additional funding for its operations, with participation limited to qualifying shareholders.

The most recent analyst rating on (HK:0248) stock is a Hold with a HK$0.04 price target. To see the full list of analyst forecasts on HKC International Holdings Limited stock, see the HK:0248 Stock Forecast page.

More about HKC International Holdings Limited

HKC International Holdings Limited is a Hong Kong-listed company incorporated in the Cayman Islands, with its shares traded on the Main Board of the Stock Exchange of Hong Kong under stock code 248. The announcement concerns the company’s capital structure and share trading arrangements rather than its operating businesses or products.

Average Trading Volume: 404,082

Technical Sentiment Signal: Hold

Current Market Cap: HK$58.53M

See more data about 0248 stock on TipRanks’ Stock Analysis page.