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Kwong Luen Engineering Holdings Limited ( (HK:1413) ) just unveiled an update.
Kwong Luen Engineering Holdings Limited has announced a placement of new shares under a general mandate, involving up to 240,000,000 new shares at a price of HK$0.083 per share. The placement is expected to raise approximately HK$19.0 million, which will be used for general working capital. The placement is contingent upon approval from the Stock Exchange’s Listing Committee, and the shares will be placed to at least six independent investors. This move represents a strategic effort to bolster the company’s financial resources, potentially enhancing its operational capacity and market positioning.
More about Kwong Luen Engineering Holdings Limited
Average Trading Volume: 23,029,112
Technical Sentiment Signal: Sell
Current Market Cap: HK$126M
For detailed information about 1413 stock, go to TipRanks’ Stock Analysis page.