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XXF Group Holdings Ltd. ( (HK:2473) ) has issued an announcement.
XXF Group Holdings has entered into a placing and top-up subscription arrangement involving the sale of existing shares by a major shareholder and the issuance of an equivalent number of new shares under its general mandate. The transaction is structured so that the placing agent will on a best-effort basis place shares to at least six independent professional or institutional-type investors at HK$0.98 per share, a discount to recent market prices, with the shareholder then subscribing for the same number of new shares.
The placing shares represent about 10% of XXF Group’s existing issued share capital and roughly 9.09% of the enlarged share base after completion of the top-up subscription, assuming full placement and no other changes to capital. Gross proceeds from the new share subscription are expected to total approximately HK$152 million, which will strengthen the company’s capital position while maintaining the controlling shareholder’s stake, though the deal will dilute existing minority shareholders and is subject to conditions that must be satisfied within 14 days.
More about XXF Group Holdings Ltd.
XXF Group Holdings Ltd., incorporated in the Cayman Islands and listed in Hong Kong, operates as a publicly traded company with its shares quoted on the Stock Exchange of Hong Kong. The group raises capital through equity market transactions and targets a mix of professional, institutional, corporate and individual investors for its shareholder base.
Average Trading Volume: 334,138,218
Technical Sentiment Signal: Sell
Current Market Cap: HK$1.75B
For a thorough assessment of 2473 stock, go to TipRanks’ Stock Analysis page.