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Wan Kei Group Holdings Limited ( (HK:1718) ) has issued an update.
Wan Kei Group Holdings Limited has entered into a Subscription Agreement with Zhongshen Xihe Enterprise Limited to issue 23,040,000 new shares, representing approximately 10% of its current issued share capital. The shares will be issued at a price of HK$0.215 each, which is a discount to recent trading prices. The gross proceeds from this issuance are expected to be HK$5.0 million, with net proceeds of HK$4.8 million intended for general working capital. This move is part of the company’s strategy to strengthen its financial position, although the completion of the subscription is subject to certain conditions.
More about Wan Kei Group Holdings Limited
Wan Kei Group Holdings Limited is a company incorporated in the Cayman Islands, operating with limited liability. The company is listed on the Stock Exchange of Hong Kong and is involved in various business activities, although specific industry details are not provided in the announcement.
Average Trading Volume: 1,682,000
Technical Sentiment Signal: Strong Sell
Current Market Cap: HK$53.78M
For detailed information about 1718 stock, go to TipRanks’ Stock Analysis page.