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An update from Sunshine Oilsands ( (HK:2012) ) is now available.
Sunshine Oilsands Ltd. has entered into a placing agreement with Cheer Union Securities Limited to issue up to 114.28 million new shares at HK$0.36 per share, representing about 20% of its existing share capital and potentially raising a maximum of HK$41.14 million before expenses. The placing, to be executed on a best-efforts basis to at least six independent Hong Kong-based investors at a discount to recent market prices, remains subject to Hong Kong Stock Exchange approval and other conditions, and is presented by the board as a commercially reasonable financing move aimed at bolstering the company’s capital position and supporting the interests of its shareholders.
The most recent analyst rating on (HK:2012) stock is a Hold with a HK$0.48 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 Canada-incorporated energy company focused on the exploration and development of oil sands assets, with its shares listed on the Hong Kong Stock Exchange under the ticker 2012. The company targets professional and institutional investors in Hong Kong’s capital markets to support its upstream oil sands operations in Alberta.
YTD Price Performance: -31.03%
Average Trading Volume: 4,695,385
Technical Sentiment Signal: Strong Sell
Current Market Cap: HK$228.5M
Learn more about 2012 stock on TipRanks’ Stock Analysis page.