Beijing Urban Construction Design & Development Grp Co., Ltd Class H (HK:1599) has released an update.
Beijing Urban Construction Design & Development Group Co., Ltd is actively addressing the issue of its public float, which is currently below the required minimum of 25%. The company has withdrawn its plan for an A Share issuance due to strategic business decisions and is exploring alternative methods to resolve the insufficient public float. These methods include negotiating share sales with substantial shareholders and potentially issuing new shares, with a commitment to update investors on progress within the next six months.
For further insights into HK:1599 stock, check out TipRanks’ Stock Analysis page.