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Kingbo Strike Ltd. ( (HK:1421) ) has shared an update.
Prosperity Group International Limited has entered into a placing agreement to issue up to 33,365,000 new shares under its existing general mandate at HK$0.34 per share, representing about 20% of its current issued share capital and approximately 16.67% of its enlarged share capital. The discounted share placing, which is expected to raise net proceeds of roughly HK$10.54 million for general working capital, is being conducted on a best-effort basis through an independent placing agent to at least six independent investors, and remains conditional on fulfillment of the placing terms, meaning the transaction may or may not proceed, a point on which shareholders and potential investors have been urged to exercise caution.
The most recent analyst rating on (HK:1421) stock is a Hold with a HK$0.50 price target. To see the full list of analyst forecasts on Kingbo Strike Ltd. stock, see the HK:1421 Stock Forecast page.
More about Kingbo Strike Ltd.
Average Trading Volume: 675,564
Technical Sentiment Signal: Sell
Current Market Cap: HK$66.73M
Find detailed analytics on 1421 stock on TipRanks’ Stock Analysis page.