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New City Development Group Limited ( (HK:0456) ) just unveiled an update.
New City Development Group Limited announced a connected transaction involving the issuance of new shares under a specific mandate to capitalize a shareholder loan. This transaction, which involves the issuance of 31,334,841 new shares at HK$0.442 per share, represents a significant portion of the company’s issued share capital. The move is subject to approval by independent shareholders and is considered a non-exempt connected transaction under Hong Kong’s listing rules. The company has engaged Veda Capital as an independent financial adviser to guide the independent board committee and shareholders through the process.
More about New City Development Group Limited
New City Development Group Limited is a company incorporated in the Cayman Islands, operating with limited liability and listed on the Hong Kong Stock Exchange. The company is involved in real estate development and investment, focusing on urban development projects.
Average Trading Volume: 48,306
Technical Sentiment Signal: Strong Sell
Current Market Cap: HK$64.28M
For detailed information about 0456 stock, go to TipRanks’ Stock Analysis page.