China International Development Raises HK$27 Million Through Share Placing to Bolster Working Capital
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China International Development Corporation Limited has raised approximately HK$27.14 million through a share placing of 12,916,000 new shares at HK$2.16 each, representing 2.72% of its enlarged share capital. The funds will be used for procurement, operating costs, and repayment of debts, enhancing the company's financial position. The share placement slightly dilutes Waterfront Holding Group's stake from 50.27% to 48.90%. The latest analyst rating for the stock is a Hold with a price target of HK$2.50.
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