Shin Hwa World Limited’s Rights Issue Oversubscribed
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Shin Hwa World Limited (HK:0582) announced that its Rights Issue was oversubscribed by approximately 3.69%, with valid applications exceeding the number of Rights Shares offered. The allocation of excess shares was done on a pro-rata basis, fulfilling all conditions in the prospectus and making the Rights Issue unconditional. This oversubscription also discharged the Underwriter’s obligations under the Underwriting Agreement. Current market cap stands at HK$394.4M with a strong sell technical sentiment signal.
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