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Yue Kan Holdings Limited ( (HK:2110) ) has provided an update.
Tian Cheng Holdings Limited has entered into an agreement with Pinestone Securities Limited to place up to 72 million new shares, representing about 20% of its existing share capital, to at least six independent investors. The placing price is set at HK$0.10 per share, reflecting a discount to recent market prices, and is conducted on a best-effort basis.
If fully subscribed, the share placing will raise estimated gross proceeds of HK$7.2 million and net proceeds of about HK$6.9 million for general working capital. The transaction will dilute existing shareholders’ stakes to some extent but is intended to strengthen the company’s liquidity, with completion remaining subject to conditions and investors advised to exercise caution.
More about Yue Kan Holdings Limited
Tian Cheng Holdings Limited is a Cayman Islands-incorporated company listed on the Hong Kong Stock Exchange under stock code 2110. The firm issues shares to a mix of individual, institutional and professional investors, using equity financing to support the group’s general working capital needs in its ongoing operations.
Average Trading Volume: 620,519
Technical Sentiment Signal: Sell
Current Market Cap: HK$38.16M
Learn more about 2110 stock on TipRanks’ Stock Analysis page.