XiangXing International Plans Share Placement

XiangXing International Holding Limited (HK:1732) has released an update.

XiangXing International Holding Limited has announced the conditional placement of 80 million new shares at a price of HK$0.12 each, a notable discount from recent closing prices, aiming to raise an estimated HK$9.6 million in gross proceeds. This strategic move, set to occur after trading hours on 7 June 2024, is intended to bolster the company’s business development and general working capital. Investors are advised to exercise caution as the placement’s completion is contingent upon certain conditions detailed in the agreement with the placing agent.

For further insights into HK:1732 stock, check out TipRanks’ Stock Analysis page.