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Sunshine Oilsands ( (HK:2012) ) has issued an update.
Sunshine Oilsands Ltd. has announced a proposed issue of convertible bonds under a specific mandate to settle debts amounting to HK$238,000,000. The bonds will be subscribed by a company wholly owned by Mr. Kwok Ping Sun, the Executive Chairman and Substantial Shareholder of Sunshine Oilsands. This transaction is considered a connected transaction under the Hong Kong Stock Exchange Listing Rules and requires independent shareholders’ approval. The issuance of these bonds could significantly impact the company’s share capital structure, potentially increasing the issued share capital by approximately 52.49% upon full conversion.
The most recent analyst rating on (HK:2012) stock is a Sell with a HK$0.50 price target. To see the full list of analyst forecasts on Sunshine Oilsands stock, see the HK:2012 Stock Forecast page.
More about Sunshine Oilsands
Sunshine Oilsands Ltd. is a corporation incorporated under the Business Corporation Act of the Province of Alberta, Canada, and is listed on the Hong Kong Stock Exchange. The company operates in the oil sands industry, focusing on the exploration and development of oil resources.
YTD Price Performance: -42.24%
Average Trading Volume: 3,080,302
Technical Sentiment Signal: Sell
Current Market Cap: HK$191.4M
For an in-depth examination of 2012 stock, go to TipRanks’ Overview page.