New Sparkle Roll Plans HK$42.8 Million Share Placement at Discount

An announcement from New Sparkle Roll International Group Limited ( (HK:0970) ) is now available.

New Sparkle Roll International Group Limited has entered into four separate subscription agreements with independent subscribers to issue a total of 112,560,361 new shares under its existing general mandate at HK$0.38 per share, representing about 20% of its current issued share capital and roughly 16.67% of the enlarged share base. The placement, priced at a discount to recent market levels, will raise approximately HK$42.77 million in gross proceeds (about HK$41.67 million net) to be used as outlined by the company for general corporate purposes, subject to listing approval and satisfaction of conditions; the move will dilute existing shareholders but provides fresh equity funding that may strengthen the company’s financial position and flexibility, although completion of each subscription is not guaranteed and investors are urged to exercise caution.

The most recent analyst rating on (HK:0970) stock is a Hold with a HK$0.44 price target. To see the full list of analyst forecasts on New Sparkle Roll International Group Limited stock, see the HK:0970 Stock Forecast page.

More about New Sparkle Roll International Group Limited

New Sparkle Roll International Group Limited is a Bermuda-incorporated company listed in Hong Kong, operating as an investment holding group. Its shares trade on the Main Board of the Stock Exchange of Hong Kong under stock code 970, with capital-raising activities conducted periodically under its general mandate to support ongoing business and investment needs.

Average Trading Volume: 2,783,445

Technical Sentiment Signal: Strong Sell

Current Market Cap: HK$239.2M

Learn more about 0970 stock on TipRanks’ Stock Analysis page.