Sky Blue 11 Halts Rights Issue and Expansion Plans

Balk 1798 Group Limited (HK:1010) has released an update.

Sky Blue 11 Company Limited, previously known as Balk 1798 Group Limited, has announced the termination of its proposed Rights Issue and the lapse of the Placing Agreement due to the reassessment of the associated risks and uncertainties in its yacht business expansion plans. The company has decided to continue operating its existing facilities in Hainan, China, and will explore other investment opportunities to grow its yacht business in the future. Shareholders and potential investors are advised to exercise caution when dealing in the company’s shares.

For further insights into HK:1010 stock, check out TipRanks’ Stock Analysis page.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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