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An update from Jutal Offshore Oil Services ( (HK:3303) ) is now available.
Jutal Offshore Oil Services Limited has proposed a non-underwritten rights issue to raise up to approximately HK$56.9 million in gross proceeds by offering 355,547,898 new shares at HK$0.16 each on the basis of one rights share for every six existing shares held by qualifying shareholders on the record date, with estimated net proceeds of about HK$55.1 million assuming full subscription. The new shares will rank pari passu with existing shares, the issue is structured to comply with Hong Kong listing rules without requiring separate shareholder approval, and the company has cautioned investors that the transaction remains conditional on regulatory approvals and may not proceed if those conditions are not satisfied, exposing those trading in existing or nil-paid rights shares to potential deal risk.
The most recent analyst rating on (HK:3303) stock is a Hold with a HK$0.50 price target. To see the full list of analyst forecasts on Jutal Offshore Oil Services stock, see the HK:3303 Stock Forecast page.
More about Jutal Offshore Oil Services
Jutal Offshore Oil Services Limited is a Hong Kong-listed company engaged in the offshore oil services sector, providing engineering and related services to the energy industry. Its shares are traded on the Main Board of the Stock Exchange of Hong Kong under stock code 3303, and the company raises capital periodically in the Hong Kong market to support its operations and growth plans.
Average Trading Volume: 478,656
Technical Sentiment Signal: Sell
Current Market Cap: HK$1.11B
For a thorough assessment of 3303 stock, go to TipRanks’ Stock Analysis page.