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Newlink Technology Inc. ( (HK:9600) ) just unveiled an announcement.
Newlink Technology Inc. has entered into a placing agreement to issue up to 60 million new shares under its general mandate at HK$0.30 per share through Dongxing Securities (Hong Kong) Company Limited, representing about 6.36% of its existing issued share capital. The placement, to a single independent investor, Blossoming M Holdings Limited, is priced at a substantial premium to recent market prices and is expected to raise about HK$17.9 million in net proceeds, which the company plans to use to replenish general working capital; the deal is on a best-effort basis and will modestly dilute existing shareholders if completed, though the placee will not become a substantial shareholder.
The most recent analyst rating on (HK:9600) stock is a Hold with a HK$0.22 price target. To see the full list of analyst forecasts on Newlink Technology Inc. stock, see the HK:9600 Stock Forecast page.
More about Newlink Technology Inc.
Average Trading Volume: 354,977
Technical Sentiment Signal: Sell
Current Market Cap: HK$190.7M
See more insights into 9600 stock on TipRanks’ Stock Analysis page.