CIMC Enric to Raise HK$774 Million via Discounted Share Placement
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CIMC Enric Holdings plans to raise approximately HK$774 million through a discounted share placement of up to 79.7 million new shares, representing about 3.92% of its existing share capital. The shares will be offered at HK$9.79 each, reflecting a discount of 6-9% to recent market prices. This move aims to strengthen the company's capital base and fund future business needs without requiring additional shareholder approval. The stock currently has a Buy rating with a price target of HK$12.00.
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