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Winshine Science Co., Ltd. ( (HK:0209) ) has provided an announcement.
Winshine Science Company Limited has completed a fully underwritten rights issue of 1,299,962,832 new shares on the basis of seven rights shares for every one existing share, raising estimated net proceeds of approximately HK$176.5 million. Valid shareholder acceptances and excess applications covered about 79.9% of the offer, with the remaining 20.1% taken up by subscribers procured by the underwriter, resulting in the entire issue being fully subscribed; the company plans to deploy the funds in line with the previously outlined purposes for the capital raise, which is expected to strengthen its balance sheet and support its planned business initiatives.
The most recent analyst rating on (HK:0209) stock is a Hold with a HK$0.19 price target. To see the full list of analyst forecasts on Winshine Science Co., Ltd. stock, see the HK:0209 Stock Forecast page.
More about Winshine Science Co., Ltd.
Winshine Science Company Limited is a Bermuda-incorporated company listed in Hong Kong (Stock Code: 209). The announcement relates to its capital-raising activities via a rights issue, but the specific industry, core products or services, and market focus of the company are not described in the release.
Average Trading Volume: 7,220,909
Technical Sentiment Signal: Hold
Current Market Cap: HK$288.2M
Learn more about 0209 stock on TipRanks’ Stock Analysis page.