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An announcement from Flowing Cloud Technology Ltd. ( (HK:6610) ) is now available.
Flowing Cloud Technology Ltd. has announced a placement of new shares under a general mandate, appointing CNI Securities Group as the placing agent. The company plans to issue up to 361,000,000 new shares, representing approximately 19.99% of its existing share capital, to raise a maximum gross proceeds of approximately HK$72.56 million. The net proceeds are expected to be around HK$71.62 million after expenses. This move is aimed at strengthening the company’s financial position, although the completion of the placement is contingent upon the approval of the Stock Exchange’s Listing Committee.
More about Flowing Cloud Technology Ltd.
YTD Price Performance: -23.75%
Average Trading Volume: 15,474,896
Technical Sentiment Signal: Buy
Find detailed analytics on 6610 stock on TipRanks’ Stock Analysis page.