Meet Samuel – Your Personal Investing Prophet
- Start a conversation with TipRanks’ trusted, data-backed investment intelligence
- Ask Samuel about stocks, your portfolio, or the market and get instant, personalized insights in seconds
The latest announcement is out from Shanghai Voicecomm Information Technology Co Ltd Class H ( (HK:2495) ).
Voicecomm Technology Co., Ltd. has disclosed additional details on the termination of a planned issue of new H shares under its general mandate, known as Subscription B, after certain conditions precedent were not met within the required timeframe. The company and the subscriber mutually agreed to end the deal via a deed of termination after recognizing that regulatory consents and approvals tied to PRC foreign exchange rules could not be obtained before the long stop date.
According to the company’s PRC legal adviser, the proposed cross-border capital flow under Subscription B triggered a need for a careful assessment of foreign exchange registration or approval requirements overseen by the State Administration of Foreign Exchange. While some conditions for completion were expected to be satisfiable, the unresolved regulatory approvals created timing uncertainty, prompting both parties to walk away from the transaction and leaving Voicecomm to seek alternative funding or capital-raising options in the future.
More about Shanghai Voicecomm Information Technology Co Ltd Class H
Voicecomm Technology Co., Ltd. is a PRC-incorporated joint stock company listed in Hong Kong as an H-share issuer. The company operates in the technology and communications sector, and its Class H shares trade under stock code 2495, giving it access to international capital via the Hong Kong market.
Average Trading Volume: 90,529
Technical Sentiment Signal: Sell
Current Market Cap: HK$1.85B
See more data about 2495 stock on TipRanks’ Stock Analysis page.