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Zhongliang Holdings Group Company Limited ( (HK:2772) ) has provided an announcement.
Zhongliang Holdings Group Company Limited has completed a mandatory conversion of US$5.41 million in principal amount of its previously issued mandatory convertible bonds, representing 50% of the original US$10.81 million issue. The converted bonds have been turned into 52.72 million new shares at HK$0.80 per share, equivalent to about 1.19% of the company’s enlarged share capital, increasing total issued shares to roughly 4.45 billion and leaving US$2.68 million in principal of the bonds outstanding. The move modestly dilutes existing shareholders, slightly reduces the stakes of the two largest shareholders, and progresses the company’s balance-sheet adjustment, while the company cautions investors to be mindful of related risks when dealing in its securities.
The most recent analyst rating on (HK:2772) stock is a Sell with a HK$0.07 price target. To see the full list of analyst forecasts on Zhongliang Holdings Group Company Limited stock, see the HK:2772 Stock Forecast page.
More about Zhongliang Holdings Group Company Limited
Zhongliang Holdings Group Company Limited is a Hong Kong–listed company incorporated in the Cayman Islands, with its shares traded on the Main Board of the Stock Exchange of Hong Kong. The group operates through a holding structure, with major shareholdings concentrated in entities such as Liangzhong International Co., Ltd. and Liangtai International Co., Ltd., and it raises capital in international markets through instruments including mandatory convertible bonds.
YTD Price Performance: -40.91%
Average Trading Volume: 2,781,569
Technical Sentiment Signal: Sell
Current Market Cap: HK$285.6M
Find detailed analytics on 2772 stock on TipRanks’ Stock Analysis page.