Vixtel Technologies Announces New Share Placement to Raise HK$39.5 Million

The latest update is out from Vixtel Technologies Holdings Ltd. ( (HK:1782) ).

Vixtel Technologies Holdings Ltd. has entered into a Placing Agreement with an independent third-party Placing Agent to issue up to 10,000,000 new shares at a price of HK$3.95 per share. This move, which represents approximately 1.31% of the company’s existing share capital, is expected to raise gross proceeds of approximately HK$39.5 million. The funds raised will be net of placing commission and related expenses, resulting in net proceeds of around HK$38.97 million. The issuance is part of the company’s strategy to strengthen its financial position, although the completion of the placing is subject to certain conditions.

More about Vixtel Technologies Holdings Ltd.

YTD Price Performance: 0.74%

Average Trading Volume: 747,587

Technical Sentiment Consensus Rating: Sell

Current Market Cap: HK$3.11B

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