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Kingbo Strike Ltd. ( (HK:1421) ) just unveiled an update.
Prosperity Group International Limited has completed a placing of 33,365,000 new shares under its general mandate, increasing its issued share capital to 200,195,200 shares. The new shares, priced at HK$0.34 each, represent 16.67% of the enlarged share capital and have been placed with at least six independent investors, none of whom has become a substantial shareholder. The transaction raised gross proceeds of about HK$11.34 million, with net proceeds of approximately HK$10.54 million after expenses, which the company will use as general working capital. The placing further diversifies the company’s shareholder base, maintains public float, and provides fresh liquidity to support day-to-day operations without altering control among existing directors and major stakeholders.
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.
Prosperity Group International Limited is a Cayman Islands–incorporated company listed on the Hong Kong Stock Exchange (Stock Code: 1421). It operates with a broad public shareholder base and an executive-led board, positioning itself as a smaller-cap issuer in the Hong Kong equity market that relies on general mandates to access capital for its ongoing operations and working capital needs.
Average Trading Volume: 1,484,461
Technical Sentiment Signal: Sell
Current Market Cap: HK$66.73M
For a thorough assessment of 1421 stock, go to TipRanks’ Stock Analysis page.