Silver Tide Holdings Completes Share Placement to Fund Energy Projects
Silver Tide Holdings Limited (HK:1943) has completed a share placement, issuing 28,970,000 shares at HK$0.637 each, raising approximately HK$17.87 million. This represents about 2.81% of the company's enlarged share capital. The funds will be used for energy storage projects, upgrading industrial parks, and general working capital. The company may consider further fundraising in the future. Current market cap stands at HK$920M with an average trading volume of 4,026,111 shares.
Silver Tide Holdings Limited ( (HK:1943) ) has provided an update.
Silver Tide Holdings Limited has announced the completion of placing new shares under a general mandate, resulting in the issuance of 28,970,000 shares at a price of HK$0.637 per share. This move represents approximately 2.81% of the company’s enlarged share capital. The proceeds, which amounted to approximately HK$17.87 million, are significantly lower than anticipated. The company plans to allocate these funds towards developing energy storage power station operations and upgrading industries in new construction industrial parks, as well as enriching general working capital. The company does not rule out the possibility of further fundraising activities in the future.
More about Silver Tide Holdings Limited
Average Trading Volume: 4,026,111
Technical Sentiment Signal: Buy
Current Market Cap: HK$920M
For a thorough assessment of 1943 stock, go to TipRanks’ Stock Analysis page.
