Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 55% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Many Idea Cloud Holdings Limited ( (HK:6696) ) has shared an update.
Many Idea Cloud Holdings Limited has successfully completed the subscription of new shares under its general mandate, issuing a total of 16,000,000 shares at HK$0.6 per share. This move represents a significant change in the company’s shareholding structure, with the new shares accounting for approximately 20% of the existing issued share capital before completion and about 16.67% after the enlargement. The gross proceeds from this subscription amounted to approximately HK$9.6 million, with net proceeds of HK$9.5 million. The company plans to allocate around 90% of the net proceeds for purchasing media resources, particularly for the Douyin Distribution Channel, and the remaining 10% for general working capital.
More about Many Idea Cloud Holdings Limited
Average Trading Volume: 2,002,007
Technical Sentiment Signal: Sell
Find detailed analytics on 6696 stock on TipRanks’ Stock Analysis page.