ITC Properties Raises HK$68.76 Million via Share Placement to Fund Tech-Driven Transformation

Claim 50% Off TipRanks Premium and Invest with Confidence Unlock hedge-fund level data and powerful investing tools designed to help you make smarter, sharper decisions Stay ahead of the market with the latest news and analysis so your portfolio is always positioned for maximum potentialAn announcement from ITC Properties Group Limited ( (HK:0199) ) is now available. ITC Properties Group Limited has completed the issuance of 100.8 million new shares to The Reynold Lemkins Group (Asia) Limited under a general mandate at HK$0.70 per share, raising net proceeds of approximately HK$68.76 million and diluting existing shareholders from 100% of 907.2 million shares to 100% of an enlarged 1.008 billion-share base, with the new investor now holding 10% of the company. The funds will be allocated mainly to support ITC’s transition into a technology-enabled real estate platform, selective acquisitions and investments aligned with its core business, strategic partnerships and geographic expansion to enhance its global positioning, and to bolster general working capital, signaling an active push to upgrade and diversify its operations and reinforce long-term business resilience. The most recent analyst rating on (HK:0199) stock is a Hold with a HK$0.91 price target. To see the full list of analyst forecasts on ITC Properties Group Limited stock, see the HK:0199 Stock Forecast page. More about ITC Properties Group Limited ITC Properties Group Limited is a Hong Kong-listed investment holding company with a core focus on property-related businesses. The group is transitioning toward a technology-enabled real estate platform while pursuing selective acquisitions, strategic partnerships, and geographic expansion to strengthen its operational capabilities and global positioning. Average Trading Volume: 4,835,775 Technical Sentiment Signal: Buy Current Market Cap: HK$907.2M