Litian Pictures to Raise Up to HK$10.6 Million via Discounted Share Placement

Litian Pictures Holdings Limited ( (HK:9958) ) has issued an update.

Litian Pictures Holdings has entered into a placing agreement with KGI Asia Limited to issue up to 68 million new shares under its general mandate at HK$0.156 per share, representing a discount of about 15% to the last closing price. The new shares will amount to roughly 15.74% of the existing share capital, or about 13.6% of the enlarged capital, and are to be placed on a best-effort basis with at least six independent investors.

Assuming full placement, the company expects net proceeds of about HK$10.61 million, equivalent to a net placing price of HK$0.152 per share, which will be used as general working capital for the group. The board considers the terms commercially reasonable and believes the transaction is in the interests of the company and shareholders, though completion remains subject to conditions under the placing agreement and may or may not proceed.

The most recent analyst rating on (HK:9958) stock is a Sell with a HK$0.19 price target. To see the full list of analyst forecasts on Litian Pictures Holdings Limited stock, see the HK:9958 Stock Forecast page.

More about Litian Pictures Holdings Limited

Litian Pictures Holdings Limited, incorporated in the Cayman Islands and listed in Hong Kong, operates in the media and entertainment sector, focusing on film and related content production and distribution. The company accesses capital markets via share placements under its general mandate to support ongoing operations and strengthen its financial position.

Average Trading Volume: 13,564,161

Technical Sentiment Signal: Sell

Current Market Cap: HK$79.92M

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