Renaissance Asia Silk Road Group Limited ( (HK:0274) ) has provided an update.
Renaissance Asia Silk Road Group Limited announced a loan capitalisation initiative resulting in the issuance of 89,118,654 new shares under a general mandate. This move allows the company to satisfy an outstanding debt of approximately HK$4.456 million owed to an independent third-party subscriber by converting the debt into equity at a subscription price of HK$0.05 per share. The new shares represent about 15.30% of the existing issued share capital and 13.27% of the enlarged share capital post-issuance. The completion of this agreement is contingent on the fulfillment of specific conditions, indicating a strategic maneuver to manage financial obligations and potentially strengthen the company’s capital structure.
More about Renaissance Asia Silk Road Group Limited
YTD Price Performance: -70.0%
Average Trading Volume: 4,522,000
Technical Sentiment Consensus Rating: Buy
Current Market Cap: HK$17.48M
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