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Guan Chao Holdings Limited ( (HK:1872) ) just unveiled an update.
Guan Chao Holdings Limited announced the results of its Rights Issue, which was under-subscribed, leading to compensatory arrangements where the unsubscribed shares were successfully placed with independent placees. The company raised approximately HK$170.64 million in net proceeds, which will be used primarily to expand its motor vehicle business network into Thailand and develop its AEM water electrolysis business, with additional funds allocated to bolster its sales network and general administrative purposes.
More about Guan Chao Holdings Limited
Guan Chao Holdings Limited operates in the motor vehicle industry and is expanding its business network into Thailand. The company is also venturing into the anion exchange membrane (AEM) water electrolysis business, focusing on enhancing its sales, service network, and brand awareness.
YTD Price Performance: 8.11%
Average Trading Volume: 1,218,208
Technical Sentiment Consensus Rating: Sell
Current Market Cap: HK$648M
See more data about 1872 stock on TipRanks’ Stock Analysis page.
