Wanjia Group to Double Authorised Share Capital and Launch HK$40–47 Million Rights Issue

The latest announcement is out from Wanjia Group Holdings Ltd. ( (HK:0401) ).

Wanjia Group Holdings Limited plans to double its authorised share capital from HK$50 million to HK$100 million by increasing the number of authorised shares from 1 billion to 2 billion, subject to shareholder approval at an extraordinary general meeting. Conditional on this increase and independent shareholders’ approval, the company will launch a rights issue of one new share for every existing share held at a subscription price of HK$0.08 per rights share, aiming to raise gross proceeds of approximately HK$44.82 million to HK$51.28 million and net proceeds of around HK$40.82 million to HK$47.28 million. The offer will be available only to qualifying shareholders, with compensatory placing arrangements in place, and is intended to strengthen the company’s capital base and provide funding flexibility, which may have implications for existing shareholders through equity dilution balanced against improved liquidity and funding capacity.

The most recent analyst rating on (HK:0401) stock is a Hold with a HK$0.14 price target. To see the full list of analyst forecasts on Wanjia Group Holdings Ltd. stock, see the HK:0401 Stock Forecast page.

More about Wanjia Group Holdings Ltd.

Wanjia Group Holdings Limited is a Hong Kong‑listed company incorporated in the Cayman Islands and traded on the Main Board of the Stock Exchange of Hong Kong under stock code 401. The specific industry, core products or services, and market focus are not described in this announcement.

Average Trading Volume: 576,229

Technical Sentiment Signal: Hold

Current Market Cap: HK$60.5M

For a thorough assessment of 0401 stock, go to TipRanks’ Stock Analysis page.