New City Development Group Limited (HK:0456) has released an update.
New City Development Group Limited announced the acquisition of 85 Concrete Mixing Transport Trucks for a total of approximately HK$16 million, to be paid for with the issuance of 18,475,750 new shares at HK$0.866 each. This transaction marks a significant investment for the company and is subject to the Hong Kong Stock Exchange’s approval for the listing of the new shares. The deal is considered a discloseable transaction, falling within the regulatory announcement requirements due to its size.
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