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Cogobuy Group ( (HK:0400) ) just unveiled an update.
INGDAN, INC., a company listed on the Stock Exchange of Hong Kong, has entered into a Subscription Agreement to issue 250,000,000 new shares to an independent third-party subscriber for a total of HK$325,000,000. The shares will be issued in two tranches under the General Mandate, representing approximately 15.20% of the enlarged share capital of the company. The subscription price is set at HK$1.30 per share, reflecting a slight discount to recent market prices. This strategic move is expected to generate gross proceeds of approximately HK$325,000,000, which will be used for purposes disclosed by the company. The completion of the subscription is contingent upon certain conditions being met, and stakeholders are advised to exercise caution as the transaction may not proceed.
More about Cogobuy Group
YTD Price Performance: 12.86%
Technical Sentiment Consensus Rating: Sell
Current Market Cap: €242.3M
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