Central Development Wins Shareholder Backing for HK$35 Million Loan-to-Equity Deal
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Central Development Holdings Limited has received shareholder approval for a HK$35 million loan-to-equity deal, converting an unsecured loan from major shareholder Mr. Hu into equity. Oceanic Capital will subscribe for 87.5 million new shares at HK$0.40 each, aimed at strengthening the company's balance sheet and reducing debt. The latest analyst rating for the stock (HK:0475) is a Hold with a price target of HK$0.51. The company is listed on the Hong Kong Stock Exchange under stock code 475, with a current market cap of HK$214.3 million.
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