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Tsui Wah Holdings Ltd. ( (HK:1314) ) has issued an update.
Tsui Wah Holdings Ltd. announced a change in the allocation of the remaining proceeds from its initial public offering. Originally intended for the construction of new central kitchens in Shanghai and Southern China, the company has decided to reallocate funds due to the limited number of restaurants in Shanghai. The revised plan will see HK$30 million used for the Southern China kitchen, while HK$20.6 million will be redirected to additional working capital and other corporate purposes. This strategic move aims to optimize financial resources without adversely affecting the company’s operations.
More about Tsui Wah Holdings Ltd.
Tsui Wah Holdings Ltd. is a company incorporated in the Cayman Islands, operating primarily in the food and beverage industry. The company, along with its subsidiaries, is known for its chain of restaurants, with a focus on expanding its presence in mainland China.
Average Trading Volume: 716,315
Technical Sentiment Signal: Sell
Current Market Cap: HK$260.6M
Learn more about 1314 stock on TipRanks’ Stock Analysis page.