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Xinming China Holdings Completes Successful Rights Issue

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Xinming China Holdings Completes Successful Rights Issue

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An announcement from Xinming China Holdings Limited ( (HK:2699) ) is now available.

Xinming China Holdings Limited successfully completed its rights issue, offering four rights shares for every adjusted share at HK$1.12 per share. The rights issue raised approximately HK$84.2 million in gross proceeds, with net proceeds of HK$78.9 million. The funds will primarily be used to settle convertible bonds, repay loans, and cover other financial obligations, with a portion allocated for general working capital. The successful placement of unsubscribed shares to independent third parties ensured the full subscription of the rights issue, strengthening the company’s financial position.

More about Xinming China Holdings Limited

Xinming China Holdings Limited is a company incorporated in the Cayman Islands, operating with its subsidiaries in various sectors. The company is listed on the Stock Exchange of Hong Kong and focuses on financial operations, including rights issues and investment management.

Average Trading Volume: 269,027

Technical Sentiment Signal: Buy

Current Market Cap: HK$212.3M

See more insights into 2699 stock on TipRanks’ Stock Analysis page.

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