New City Development Group Limited (HK:0456) has released an update.
Don't Miss Our Christmas Offers:
- Discover the latest stocks recommended by top Wall Street analysts, all in one place with Analyst Top Stocks
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
New City Development Group Limited announced the acquisition of 85 Concrete Mixing Transport Trucks for a total of approximately HK$16 million, to be paid for with the issuance of 18,475,750 new shares at HK$0.866 each. This transaction marks a significant investment for the company and is subject to the Hong Kong Stock Exchange’s approval for the listing of the new shares. The deal is considered a discloseable transaction, falling within the regulatory announcement requirements due to its size.
For further insights into HK:0456 stock, check out TipRanks’ Stock Analysis page.