China Shenghai’s New Share Placement Deal

China Shenghai Group Limited (HK:1676) has released an update.

China Shenghai Group Limited has announced a new share placement agreement with Zijing Capital Limited to sell up to 11.5 million shares, representing approximately 7.99% of its current issued share capital, at a discounted price of HK$1.40 each. The placement aims to raise about HK$15.7 million in net proceeds, intended for the company’s general working capital. Shareholders and potential investors have been cautioned that the placement is conditional and may not proceed as planned.

For further insights into HK:1676 stock, check out TipRanks’ Stock Analysis page.