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The latest update is out from New Concepts Holdings Ltd ( (HK:2221) ).
New Concepts Holdings Ltd has agreed to issue 34.24 million new shares under its existing general mandate, raising gross proceeds of HK$34.24 million at HK$1.00 per share, a modest premium to the recent market price, subject to fulfillment of conditions in the subscription agreements. The new shares will represent about 17.55% of the current issued share capital, or 14.93% post-issuance, with net proceeds of approximately HK$34.11 million and minimal issuance costs, signalling a sizeable equity fundraising that will dilute existing shareholders but strengthen the company’s capital base if completed, with one of the identified subscribers being Beijing Xiangyi Asset Management Co., Ltd., an independent third party investor.
The most recent analyst rating on (HK:2221) stock is a Hold with a HK$1.00 price target. To see the full list of analyst forecasts on New Concepts Holdings Ltd stock, see the HK:2221 Stock Forecast page.
More about New Concepts Holdings Ltd
Average Trading Volume: 489,721
Technical Sentiment Signal: Sell
Current Market Cap: HK$175.6M
Learn more about 2221 stock on TipRanks’ Stock Analysis page.