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Cosmopolitan International Holdings Limited ( (HK:0120) ) has shared an update.
Cosmopolitan International Holdings Limited has announced a placing of new shares under a general mandate, involving a maximum of 100,000,000 shares at a price of HK$0.108 per share. This represents a discount to recent trading prices and will result in gross proceeds of approximately HK$10.8 million. The transaction will lead to a dilution of Century City’s shareholding in Cosmopolitan from 70.30% to 65.06%, constituting a deemed disposal under the Listing Rules. Despite this dilution, Cosmopolitan will remain a non-wholly owned subsidiary of Century City, and its financial results will continue to be consolidated into Century City’s accounts.
More about Cosmopolitan International Holdings Limited
Average Trading Volume: 940,924
Technical Sentiment Signal: Sell
Current Market Cap: HK$199.8M
Learn more about 0120 stock on TipRanks’ Stock Analysis page.