Avenir Capital Inc. Reduces Shareholding in Xinhuo Technology Holdings

02/17/2023 11:09 • NFT Newsflash • 124 views

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

Interpret the above information:

According to the report, Avenir Capital Inc. has continued to reduce its shareholding in Xinhuo Technology Holdings Co., Ltd. on February 16, 2021. This announcement was made through the Hong Kong Stock Exchange, where Avenir Capital had disclosed that its shareholding ratio decreased from 22.06% on January 11 to 17.23%. Additionally, the number of shares held decreased by about 14.92 million shares, bringing down the total shares held to about 53.22 million shares. Finally, based on the average share price of HK$2.812 during this period, the investment involved is about HK$41.96 million.

The message indicates that Avenir Capital Inc. has been selling its shares gradually in Xinhuo Technology Holdings Co., Ltd. over the past month, decreasing its total investment in the company. The actual reason behind the move is not provided, but this can be a strategic decision on the part of Avenir Capital or can imply an indication of the company’s future performance.

Xinhuo Technology Holdings Co., Ltd. is a manufacturer and distributor of a diverse line of metallurgical coke and related products in China. Avenir Capital Inc., on the other hand, is an Australian-based investment management firm that mainly invests funds on a long-term basis focusing on Asian markets.

One possible interpretation of Avenir Capital’s move is that the company may have reconsidered its long-term investment strategy with the Chinese company or may want to diversify its portfolio. It can also signify that the investment firm may have better prospects in other emerging markets or leading companies that could yield higher returns than Xinhuo Technology Holdings.

In conclusion, Avenir Capital Inc. disclosed that it has reduced its shareholding in Xinhuo Technology Holdings Co., Ltd. The company has gradually reduced its stake in the Chinese metallurgical coke and related product manufacturer from 22.06% to 17.23%. The gradual selling off of shares could signify a revised investment strategy, a way of obtaining liquidity, or a concern with the current state and the future of the company.

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Avenir Capital Inc. Reduces Shareholding in Xinhuo Technology Holdings

Avenir Capital reduced its holdings of about HK $41.96 million in New Fire Technology in the past month

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