Solartech Raises HK$8.48 Million Through Completion of Share Placing

Solartech International Holdings Limited ( (HK:1166) ) has provided an update.

Solartech International Holdings Limited has completed a placing of 23,740,000 new shares under its general mandate at HK$0.37 per share, raising net proceeds of approximately HK$8.48 million. The new shares, representing about 16.66% of the enlarged share capital, were placed to at least six independent investors, none of whom became a substantial shareholder, resulting in an increase in total issued shares from 118,726,617 to 142,466,617 and modest dilution of existing holdings while providing additional capital for the company’s stated funding purposes.

The most recent analyst rating on (HK:1166) stock is a Hold with a HK$0.50 price target. To see the full list of analyst forecasts on Solartech International Holdings Limited stock, see the HK:1166 Stock Forecast page.

More about Solartech International Holdings Limited

Solartech International Holdings Limited is a Hong Kong-listed company incorporated in Bermuda, with its shares traded on the Main Board of the Stock Exchange of Hong Kong under stock code 1166. The company operates with a board comprising executive and independent non-executive directors, and its shares are widely held by public shareholders, with no single substantial shareholder emerging from the latest placing exercise.

YTD Price Performance: 103.85%

Average Trading Volume: 131,124

Technical Sentiment Signal: Hold

Current Market Cap: HK$62.93M

For an in-depth examination of 1166 stock, go to TipRanks’ Overview page.