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Trendzon Holdings Group Limited ( (HK:1865) ) just unveiled an announcement.
Pengo Holdings Group Limited has completed the placing of HK$120 million in convertible bonds to at least six independent investors under a specific mandate, with none of the placees expected to become a substantial shareholder upon full conversion. The company will use approximately HK$100 million of the HK$118.4 million in net proceeds to fund project development costs for the first phase of its pumped storage power station, including upfront design and consultation work and major substructure and superstructure construction, and will allocate about HK$18.4 million as general working capital to cover daily operating expenses and payments to suppliers and subcontractors through April 2026, strengthening its funding position for ongoing development and operations.
The most recent analyst rating on (HK:1865) stock is a Hold with a HK$0.50 price target. To see the full list of analyst forecasts on Trendzon Holdings Group Limited stock, see the HK:1865 Stock Forecast page.
More about Trendzon Holdings Group Limited
Pengo Holdings Group Limited is a Cayman Islands-incorporated company listed on the Hong Kong Stock Exchange. The group is engaged in project development activities and is currently investing in a pumped storage power station project, reflecting a strategic focus on infrastructure and energy-related construction.
Average Trading Volume: 5,278,070
Technical Sentiment Signal: Strong Sell
Current Market Cap: HK$184.2M
See more data about 1865 stock on TipRanks’ Stock Analysis page.