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China Water Industry Group Limited ( (HK:1129) ) has shared an update.
China Water Industry Group Limited announced the results of its rights issue, indicating that the offering was under-subscribed, with approximately 63.07% of the rights shares applied for. However, the company successfully placed all unsubscribed rights shares through a placing agent, raising gross proceeds of approximately HK$93.68 million. The net proceeds will be primarily used for debt repayment, investment in a biomass gas project, and general working capital. The rights issue did not alter the substantial shareholding structure, and the company continues to explore additional fundraising activities to fully settle its debts.
More about China Water Industry Group Limited
China Water Industry Group Limited operates in the utilities sector, focusing on water-related projects and services. The company is engaged in the development and management of water supply and sewage treatment projects, as well as investments in the biomass gas sector.
YTD Price Performance: -18.82%
Average Trading Volume: 122,746
Technical Sentiment Consensus Rating: Buy
Current Market Cap: HK$204M
For detailed information about 1129 stock, go to TipRanks’ Stock Analysis page.
