Avenir Capital Inc. reduces its shareholding in Xinhuo Technology Holdings Co. Ltd.
According to the report, according to the data of the Hong Kong Stock Exchange, Avenir Capital Inc. disclosed that it continued to reduce its shareholding in X…
According to the report, according to the data of the Hong Kong Stock Exchange, Avenir Capital Inc. disclosed that it continued to reduce its shareholding in Xinhuo Technology Holdings Co., Ltd. (01611. HK) on February 16, and its shareholding ratio decreased from 22.06% on January 11 to 17.23%; The number of shares held decreased by about 14.92 million shares to about 53.22 million shares; Based on the average share price of HK $2.812 during this period, the investment involved is about HK $41.96 million.
Avenir Capital reduced its holdings of about HK $41.96 million in New Fire Technology in the past month
Interpretation of the news:
Avenir Capital Inc. has announced its decision to reduce its shareholding in Xinhuo Technology Holdings Co. Ltd. (01611. HK), according to data from the Hong Kong Stock Exchange. This announcement comes on the heels of a similar move by the company on January 11, 2021. The reduction in shareholding has resulted in the company’s shareholding ratio decreasing from 22.06% to 17.23%, which represents a significant reduction of about 14.92 million shares. The investment involved in this reduction is estimated to be around HKD 41.96 million, based on the average share price of HKD 2.812 during the period.
This move by Avenir Capital Inc. signals a change in their investment strategy and approach to Xinhuo Technology Holdings Co. Ltd. It highlights a lack of confidence or decreased interest in the company and its future prospects. At the same time, it also represents a shift of investment focus on to other investment opportunities that fit the company’s objectives and goals.
This development also speaks to the ongoing challenges faced by companies in the technology sector amid the COVID-19 pandemic. The pandemic has had a significant impact on businesses worldwide, with many seeing the effects in supply chains and overall demand. Xinhuo Technology Holdings Co. Ltd. has not been immune to these challenges, and the reduction in shareholding may be an indication that Avenir Capital Inc. believes the company may struggle to achieve its pre-pandemic levels of success.
In conclusion, Avenir Capital Inc.’s decision to reduce its shareholding in Xinhuo Technology Holdings Co. Ltd. signals a shift in investment focus and suggests a lack of confidence in the company’s prospects. This reduction comes at a time when many tech companies are grappling with the effects of the COVID-19 pandemic, highlighting the difficulties faced by businesses in the current climate.
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