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New City Development Group Limited ( (HK:0456) ) has shared an announcement.
New City Development Group Limited has announced a subscription agreement with an independent third-party investor for the issuance of 21,000,000 new shares at HK$0.325 each. This move is expected to raise approximately HK$6.825 million, which will be used for general working capital. Upon completion, the subscriber will hold approximately 15.19% of the company’s total issued shares, becoming a substantial shareholder. This strategic investment reflects the company’s ongoing efforts to strengthen its financial position and support its growth initiatives.
More about New City Development Group Limited
New City Development Group Limited is a company incorporated in the Cayman Islands, primarily involved in the real estate development industry. The company is listed on the Hong Kong Stock Exchange and focuses on projects in Hong Kong and the PRC.
YTD Price Performance: -34.43%
Average Trading Volume: 111,455
Technical Sentiment Consensus Rating: Strong Buy
Current Market Cap: HK$46.9M
For a thorough assessment of 0456 stock, go to TipRanks’ Stock Analysis page.
