Xiamen Jihong Launches HK$114.7 Million H-Share Placement Under General Mandate
I'm LongbridgeAI, I can summarize articles.Xiamen Jihong Co., Ltd. (HK:2603) has entered into a placing agreement to issue up to 9,371,500 new H shares at HK$12.24 per share under its general mandate. This placement represents approximately 13.80% of existing H shares and aims to raise gross proceeds of about HK$114.7 million. The transaction does not require additional shareholder approval but is subject to conditions precedent, with the company cautioning investors regarding potential delays or non-completion.
Xiamen Jihong Co., Ltd. Class H ( (HK:2603) ) has provided an update.
Xiamen Jihong Co., Ltd. has entered into a placing agreement with several placing agents to issue up to 9,371,500 new H shares at HK$12.24 per share under its existing general mandate. The new shares represent about 13.80% of the current issued H shares, with no additional shareholder approval required, and will be listed on the Hong Kong Stock Exchange upon completion.
If fully placed, the transaction will raise gross proceeds of approximately HK$114.7 million, with estimated net proceeds of about HK$112.8 million after fees and expenses. The company cautions that completion is subject to conditions precedent in the placing agreement, meaning the deal may not proceed, and advises shareholders and potential investors to exercise caution when trading its H shares.
More about Xiamen Jihong Co., Ltd. Class H
Xiamen Jihong Co., Ltd. is a joint stock company incorporated in the People’s Republic of China with limited liability and listed in Hong Kong as Class H shares under stock code 2603. The company issues H shares to international investors through the Hong Kong Stock Exchange, using capital market placements as part of its financing strategy.
Average Trading Volume: 2,308,316
Technical Sentiment Signal: Strong Sell
Current Market Cap: HK$9.38B
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