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Sundart Holdings Ltd. ( (HK:1568) ) has shared an update.
Sundart Holdings has entered into a placing agreement with a placing agent to issue up to 22 million new shares, representing about 1% of its enlarged share capital, to at least six independent investors under its general mandate. The placing price is set at HK$0.66 per share, reflecting a discount of roughly 11% to the recent market price.
If fully placed, the transaction is expected to raise gross proceeds of about HK$14.5 million and net proceeds of approximately HK$14.2 million for the company. Sundart will apply for listing approval for the new shares on the Hong Kong Stock Exchange, while cautioning investors that completion is subject to conditions and the placing agent’s right to terminate the deal.
More about Sundart Holdings Ltd.
Sundart Holdings Ltd. is a British Virgin Islands–incorporated company listed in Hong Kong that operates in the construction and fit-out sector, focusing on interior decoration and related contracting services. Its business typically targets commercial and residential property projects, working with developers and property owners in the regional construction market.
Average Trading Volume: 324,403
Technical Sentiment Signal: Hold
Current Market Cap: HK$1.6B
For an in-depth examination of 1568 stock, go to TipRanks’ Overview page.