Teamway International Raises HK$13.4 Million Through Share Subscription

The latest update is out from Teamway International Group Holdings Limited ( (HK:1239) ).

Teamway International Group Holdings Limited has completed a new share subscription under its general mandate, issuing 39,456,175 new shares at HK$0.341 each to a single subscriber, raising net proceeds of about HK$13.4 million earmarked for general working capital. The issuance represents roughly 10% of the company’s pre-deal share capital and 9.09% of the enlarged share base, slightly diluting existing shareholders while bringing in fresh capital and introducing a new 9.09% shareholder, with the overall ownership structure of major directors and public shareholders remaining largely intact.

The most recent analyst rating on (HK:1239) stock is a Hold with a HK$0.63 price target. To see the full list of analyst forecasts on Teamway International Group Holdings Limited stock, see the HK:1239 Stock Forecast page.

More about Teamway International Group Holdings Limited

Teamway International Group Holdings Limited is a Hong Kong-listed company incorporated in the Cayman Islands, with its shares traded on the Main Board of the Stock Exchange of Hong Kong under stock code 01239. The group operates through a diversified shareholding base that includes executive, non-executive and independent non-executive directors alongside public investors.

Average Trading Volume: 894,014

Technical Sentiment Signal: Buy

Current Market Cap: HK$240.7M

For an in-depth examination of 1239 stock, go to TipRanks’ Overview page.