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An update 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, involving up to 433,429,200 shares at a price of HK$0.174 per share. The placement aims to raise approximately HK$74.53 million in net proceeds, which will be allocated towards acquiring advertising traffic, enhancing research and development capabilities, and general working capital. This move could strengthen the company’s financial position and support its growth initiatives.
The most recent analyst rating on (HK:6610) stock is a Hold with a HK$0.50 price target. To see the full list of analyst forecasts on Flowing Cloud Technology Ltd. stock, see the HK:6610 Stock Forecast page.
More about Flowing Cloud Technology Ltd.
Average Trading Volume: 10,577,671
Technical Sentiment Signal: Sell
Current Market Cap: HK$450.2M
For an in-depth examination of 6610 stock, go to TipRanks’ Overview page.