Shin Hwa World Limited’s Rights Issue Oversubscribed
Shin Hwa World Limited (HK:0582) announced that its Rights Issue was oversubscribed by approximately 3.69%, with valid applications exceeding the number of Rights Shares offered. The allocation of excess shares was done on a pro-rata basis, fulfilling all conditions in the prospectus and making the Rights Issue unconditional. This oversubscription also discharged the Underwriter’s obligations under the Underwriting Agreement. Current market cap stands at HK$394.4M with a strong sell technical sentiment signal.
The latest update is out from Shin Hwa World Limited ( (HK:0582) ).
Shin Hwa World Limited announced the results of its Rights Issue, which offered one Rights Share for every existing share held. The Rights Issue was oversubscribed, with valid applications exceeding the total number of Rights Shares offered by approximately 3.69%. The allocation of excess Rights Shares was conducted on a pro-rata basis, fulfilling all conditions set out in the prospectus and rendering the Rights Issue unconditional. The over-subscription resulted in the full discharge of the Underwriter’s obligations under the Underwriting Agreement.
More about Shin Hwa World Limited
Average Trading Volume: 714,589
Technical Sentiment Signal: Strong Sell
Current Market Cap: HK$394.4M
For an in-depth examination of 0582 stock, go to TipRanks’ Overview page.
