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TOM Group ( (HK:2383) ) just unveiled an announcement.
TOM Group Limited announced the issuance of HK$4.50 billion in subordinated perpetual securities subscribed by Hutchison Whampoa Europe Investments, a subsidiary of CK Hutchison Holdings Limited. The proceeds will be used to repay significant liabilities, including long-term bank loans, which will improve the company’s financial position by reducing its gearing ratio and enhancing its net asset position. This financial restructuring is expected to provide TOM Group with improved liquidity, allowing it to focus on future business operations and investment opportunities.
The most recent analyst rating on (HK:2383) stock is a Hold with a HK$0.50 price target. To see the full list of analyst forecasts on TOM Group stock, see the HK:2383 Stock Forecast page.
More about TOM Group
TOM Group Limited operates in the media and technology industry, providing a range of services and products including digital media, e-commerce, and mobile internet. The company focuses on leveraging technological advancements to enhance its offerings and expand its market presence.
Average Trading Volume: 110,187
Technical Sentiment Signal: Strong Sell
Current Market Cap: HK$1.7B
For detailed information about 2383 stock, go to TipRanks’ Stock Analysis page.