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Sandmartin International Holdings Limited ( (HK:0482) ) has provided an announcement.
Sandmartin International Holdings has issued a supplemental announcement detailing changes to its proposed capital reorganisation and rights issue, which offers one rights share for every one adjusted share on a non-underwritten basis. The board has revised the timetable for the capital reorganisation, rights issue and register closure, and altered how unsubscribed and non-qualifying shareholders’ entitlements will be handled.
Instead of using excess application forms, the company will now dispose of unsubscribed rights shares by placing them to independent placees, in line with Hong Kong listing rules. Any rights shares not taken up by qualifying shareholders, as well as unsold entitlements of non-qualifying shareholders and certain nil-paid rights shares, will be placed under a new placing agreement, creating a compensatory arrangement that may affect dilution and proceeds distribution for existing investors.
The most recent analyst rating on (HK:0482) stock is a Hold with a HK$0.08 price target. To see the full list of analyst forecasts on Sandmartin International Holdings Limited stock, see the HK:0482 Stock Forecast page.
More about Sandmartin International Holdings Limited
Sandmartin International Holdings Limited is a Bermuda-incorporated company listed on the Hong Kong Stock Exchange under stock code 482. The group operates in the investment and corporate holdings space, using capital market transactions to manage its share capital structure and support its ongoing business strategy in Hong Kong and related markets.
Average Trading Volume: 429,232
Technical Sentiment Signal: Sell
Current Market Cap: HK$94.74M
Learn more about 0482 stock on TipRanks’ Stock Analysis page.