Kidztech boosts capital as Renxiang converts HK$20 million in bonds to equity

An update from Kidztech Holdings Ltd. ( (HK:6918) ) is now available.

Kidztech Holdings Ltd. has announced that Renxiang Technology Company Ltd. has converted HK$20 million of its previously subscribed convertible bonds into equity at a conversion price of HK$0.16 per share. The conversion resulted in the issuance of 124,910,000 new shares to Renxiang, increasing Kidztech’s total issued share capital to 874,386,800 shares.

Following the transaction, Renxiang now holds about 14.29% of Kidztech’s enlarged share capital, while existing significant shareholders Top Synergy Y&C Ltd. and Gold-Face Finance Ltd. have been diluted to 20.56% and 12.50% respectively. The move strengthens Kidztech’s capital base and introduces Renxiang as a substantial shareholder, slightly dispersing ownership while maintaining the ranking and rights of all shares on an equal footing.

The most recent analyst rating on (HK:6918) stock is a Hold with a HK$0.16 price target. To see the full list of analyst forecasts on Kidztech Holdings Ltd. stock, see the HK:6918 Stock Forecast page.

More about Kidztech Holdings Ltd.

Kidztech Holdings Ltd. is a Cayman Islands–incorporated company listed in Hong Kong, operating in the toy and children’s products sector. The group focuses on designing, manufacturing and distributing toys and related products, targeting international markets through its Hong Kong listing and shareholder base.

Average Trading Volume: 7,735,581

Technical Sentiment Signal: Sell

Current Market Cap: HK$121.4M

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