China Wah Yan Healthcare (HK:0648) has released an update.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
China Wah Yan Healthcare has entered into a Loan Capitalisation Agreement, conditionally agreeing to allot shares and convertible notes post-trading hours on June 13, 2024, which is contingent upon the completion of a prior restructuring agreement. The company plans to use the HK$14.8 million net proceeds for operational expenses, trading resumption, scheme costs, and working capital for its Healthcare Business. An Extraordinary General Meeting (EGM) will be convened for shareholders to approve this arrangement, which is part of a critical rescue proposal to prevent the company’s delisting.
For further insights into HK:0648 stock, check out TipRanks’ Stock Analysis page.