Fire Rock Holdings Announces Rights Issue to Raise Capital
Fire Rock Holdings Ltd (HK:1909) has announced a Rights Issue to raise capital through the issuance of up to 96,000,000 shares at HK$1.58 each. An extraordinary general meeting will discuss this move, which allows existing shareholders to purchase additional shares, with some exclusions for shareholders outside Hong Kong. The company has engaged SBI China Capital Financial Services and Sulfulon International for placement and underwriting. The current analyst rating for HK:1909 is a Hold with a price target of HK$2.00.
An update from Fire Rock Holdings Ltd ( (HK:1909) ) is now available.
Fire Rock Holdings Ltd has announced an extraordinary general meeting to discuss a Rights Issue, which involves the allotment and issuance of up to 96,000,000 shares at a subscription price of HK$1.58 per share. This move aims to raise capital by offering existing shareholders the opportunity to purchase additional shares, with certain exclusions for shareholders outside Hong Kong due to legal and regulatory constraints. The company has also entered into agreements with SBI China Capital Financial Services Limited and Sulfulon International Limited to manage the placement and underwriting of these shares, which could impact the company’s financial strategy and shareholder value.
The most recent analyst rating on (HK:1909) stock is a Hold with a HK$2.00 price target. To see the full list of analyst forecasts on Fire Rock Holdings Ltd stock, see the HK:1909 Stock Forecast page.
More about Fire Rock Holdings Ltd
Average Trading Volume: 152,232
Technical Sentiment Signal: Sell
Current Market Cap: HK$405.1M
Find detailed analytics on 1909 stock on TipRanks’ Stock Analysis page.
