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HKG:1729

3 stories mentioning HKG:1729Updated 27d ago

Every FINWIRES story that references HKG:1729, newest first.

Asia

Time Interconnect Raises HK$2.88 Billion from Share Placement

Time Interconnect Technology (HKG:1729) completed the placing of nearly 138.1 million shares to raise net proceeds of around HK$2.88 billion, according to a Tuesday Hong Kong bourse filing.The shares, representing 6.19% of the cable assembly business' enlarged issued share capital, were issued to at least six investors at a net issue price of HK$20.89 apiece.The firm will use proceeds for global business expansion, repayment of bank borrowings, strategic investments and acquisitions, working capital, and general corporate purposes.

HKG:1729
Asia

Time Interconnect Technology to Raise HK$2.9 Billion via Share Placement

Time Interconnect Technology (HKG:1729) agreed to place 138.1 million new shares at HK$21 each, raising net proceeds of about HK$2.88 billion, according to a Tuesday Hong Kong bourse filing.The placing price represents a discount of about 13.6% to the last closing price and about 5.9% to the five-day average.The new shares account for about 6.6% of the company's existing issued share capital.Time Interconnect plans to use the proceeds for global business development and overseas expansion, for repayment of bank borrowings and balance sheet enhancement, and for strategic investments and acquisitions.The company expects to place the shares with at least six independent investors under its general mandate, with no shareholder approval required.

HKG:1729
Asia

Time Interconnect to Buy Remaining 51% of Time Interconnect Singapore; Shares Slip 6%

Time Interconnect Technology (HKG:1729) has agreed to acquire the remaining stake in Time Interconnect Singapore from its controlling shareholder, Luxshare Precision Industry (SHE:002475), according to a Thursday Hong Kong bourse filing.Shares of the cable assembly business were down nearly 6% in Friday afternoon trade.The acquisition is valued at $12.7 million, the filing said.Time Interconnect Singapore is currently owned 49% by the company and 51% by Luxshare Precision.Separately, the company said it has entered into a supplemental agreement with Luxshare Precision Industry to revise annual caps for continuing transactions.The revised caps were increased to HK$3.5 billion for 2026, HK$5.3 billion for 2027, and HK$5.8 billion for 2028.

HKG:1729SHE:002475