At $26.6 million, it is equivalent to around half the company's current market cap and will be used to fund Zixin's expansion plans in Hainan and Singapore.
Liu Miaomiao of PhillipCapital has kept her "buy" call and 6 cents target price for Zixin Group after the company's plan to issue share options to a group of investors including chairman Liang Chengwang, potentially raising some $26.6 million.
From Liu's perspective, this commitment by Liang and other investors underscores the long-term commitment and confidence in the company’s growth trajectory.
