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Birmingham Sports Holdings Limited ( (HK:2309) ) just unveiled an announcement.
ZO Future Group has successfully completed the placing of 37,634,000 new shares, representing approximately 4.41% of its issued share capital, to independent third-party investors. The net proceeds of approximately HK$69.5 million will primarily be used to repay the company’s liabilities and improve its liquidity, with the remainder allocated for general working capital purposes. This strategic move is expected to reduce interest expenses and alleviate the financial burden on the company, which has been facing significant net losses.
More about Birmingham Sports Holdings Limited
Average Trading Volume: 2,762,817
Technical Sentiment Signal: Sell
Current Market Cap: HK$1.96B
For a thorough assessment of 2309 stock, go to TipRanks’ Stock Analysis page.