Standard Development Group Limited ( (HK:1867) ) has provided an update.
Standard Development Group Limited has announced a placement of HK$37,000,000 in convertible bonds due 2027, under a general mandate. The proceeds are intended to support the company’s existing petroleum and bio-energy businesses and cover general working capital expenses. The placement, managed by VC Brokerage Limited, involves issuing up to 148,000,000 new shares, potentially increasing the company’s share capital by approximately 9.01%. This move aims to strengthen the company’s financial position and operational capabilities, though it remains subject to conditions precedent under the Placing Agreement.
More about Standard Development Group Limited
Standard Development Group Limited is involved in the petroleum and bio-energy industries, focusing on the development of these sectors.
YTD Price Performance: -22.50%
Average Trading Volume: 335,106
Technical Sentiment Consensus Rating: Buy
Current Market Cap: HK$231.6M
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