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An announcement from Twintek Investment Holdings Ltd. ( (HK:6182) ) is now available.
Twintek Investment Holdings has restored its public float and will resume trading in its shares after completing a placing of 111,316,000 shares previously held by controlling shareholder Mars Nest Limited. The placing, executed through a placing agent at HK$0.24375 per share, was allocated to at least six independent institutional, professional and individual investors, none of whom became a substantial shareholder.
Following the transaction, Mars Nest and its concert parties reduced their combined stake from about 88.91% to 75% of Twintek’s issued share capital, allowing the company to meet the Stock Exchange’s minimum public float requirement. The move ends a period of waivers and trading suspension tied to an earlier shortfall in public float, normalizing the stock’s status and broadening its investor base while Mars Nest remains the controlling shareholder.
More about Twintek Investment Holdings Ltd.
Twintek Investment Holdings Ltd., incorporated in the Cayman Islands and listed in Hong Kong, is an investment holding company whose shares trade under stock code 6182. The company’s shareholder base includes a controlling shareholder, Mars Nest Limited, which has been managing its stake to meet Hong Kong’s public float requirements.
Technical Sentiment Signal: Buy
Current Market Cap: HK$592M
Learn more about 6182 stock on TipRanks’ Stock Analysis page.