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Kwan On Holdings Ltd. ( (HK:1559) ) just unveiled an update.
Kwan On Holdings Limited has announced the results of its non-underwritten rights issue, offered on the basis of one rights share for every two shares held as at the record date. The offering attracted valid subscriptions and excess applications for a total of 885,440,498 rights shares, representing approximately 94.74% of the maximum 934,579,981 rights shares available.
Major shareholder Sino Coronet fully took up its provisional allotment of 519,728,125 rights shares and applied for additional excess shares, underscoring strong cornerstone support. The issue raised approximately HK$61.98 million in gross proceeds, with about HK$60.18 million in net proceeds to be deployed in line with the company’s stated use of funds, while all valid excess applications were fully satisfied due to undersubscription of about 5.26%.
The most recent analyst rating on (HK:1559) stock is a Hold with a HK$0.08 price target. To see the full list of analyst forecasts on Kwan On Holdings Ltd. stock, see the HK:1559 Stock Forecast page.
More about Kwan On Holdings Ltd.
Kwan On Holdings Limited is a Hong Kong-listed company incorporated in the Cayman Islands and traded on the Main Board of the Stock Exchange of Hong Kong. The company operates within the regional capital markets ecosystem and raises funding through equity transactions such as rights issues to support its business and strategic initiatives.
Average Trading Volume: 416,005
Technical Sentiment Signal: Sell
Current Market Cap: HK$218.7M
See more insights into 1559 stock on TipRanks’ Stock Analysis page.