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XXF Group Holdings Ltd. ( (HK:2473) ) has provided an update.
XXF Group Holdings Ltd. has entered into a placing and top-up subscription agreement involving existing and new shares, with expected aggregate gross proceeds of about HK$126.8 million. The placing shares account for roughly 9.09% of the current issued share capital and about 8.33% of the enlarged share capital after completion of the top-up subscription.
The shares will be placed by Quam Securities to at least six independent professional or institutional investors at HK$0.82 per share, representing a small discount to recent market prices. Net proceeds of approximately HK$126.0 million will be raised under the general mandate without requiring additional shareholder approval, and the company will seek listing approval for the new shares, signaling a move to strengthen its capital base and broaden its shareholder mix.
More about XXF Group Holdings Ltd.
XXF Group Holdings Ltd. is a Cayman Islands-incorporated company listed on the Hong Kong Stock Exchange under stock code 2473. The announcement relates to its capital markets activities, indicating an active focus on equity financing to support its corporate and operational needs in the Hong Kong market.
Average Trading Volume: 324,298,214
Technical Sentiment Signal: Sell
Current Market Cap: HK$1.48B
Learn more about 2473 stock on TipRanks’ Stock Analysis page.