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Ta Yang Group Holdings Limited ( (HK:1991) ) has issued an announcement.
Ta Yang is restructuring its capital by reducing the par value of existing shares and subdividing unissued shares, using the resulting credit to offset accumulated losses and bolster distributable reserves while keeping all new shares on equal footing once the plan takes effect. Contingent on that reorganisation, the company plans a non-underwritten rights issue of two rights shares for every new share at HK$0.80 to raise up to about HK$300 million, a move that could significantly enlarge its share base but carries subscription risk because no shareholders have pledged support and the issue has no guaranteed minimum proceeds.
The most recent analyst rating on (HK:1991) stock is a Hold with a HK$0.96 price target. To see the full list of analyst forecasts on Ta Yang Group Holdings Limited stock, see the HK:1991 Stock Forecast page.
More about Ta Yang Group Holdings Limited
Ta Yang Group Holdings Limited is a Hong Kong-listed manufacturer in the consumer goods sector, known for producing and selling silicone rubber products and diversified household items for global brands and retail markets.
Average Trading Volume: 863,037
Technical Sentiment Signal: Strong Sell
Current Market Cap: HK$141M
See more insights into 1991 stock on TipRanks’ Stock Analysis page.