Avenir Capital continues to reduce its shareholding in Xinhuo Technology

02/17/2023 11:09 • Tech Trends • 140 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

Analysis based on this information:

Avenir Capital Inc. has been reducing its shareholding in Xinhuo Technology Holdings Co., Ltd., as per the data disclosed by the Hong Kong Stock Exchange. On February 16, Avenir Capital decreased its shareholding ratio from 22.06% on January 11 to 17.23%. The number of shares held has also reduced by approximately 14.92 million shares, making the new amount of shares held by the company about 53.22 million.

Xinhuo Technology Holdings Co., Ltd. is a technology company that offers modern farming and environment-friendly solutions. This recent move by Avenir Capital suggests a lack of confidence in the company’s future growth prospects. It is not clear if Avenir Capital’s move is a result of some recent developments or if it is a strategy that they have been implementing for some time. However, the significant decrease in shareholding, 22.06% to 17.23%, is indicative of the doubts Avenir Capital has in the company.

The fact that Avenir Capital is pulling out its investment from Xinhuo Technology Holdings Co., Ltd. is significant as Avenir Capital is a notable investor in the company. Avenir Capital specializes in Asian equities and takes an active approach in its investments by seeking to engage with management to improve shareholder value. Its decision to reduce its investment in Xinhuo Technology Holdings Co., Ltd. can, therefore, send negative signals to other market participants.

The investment involved in the sale of shares, based on the average share price of HK $2.812 during the period, amounts to around HK $41.96 million. The amount shows that Avenir Capital significantly reduced its exposure, considering that the corresponding value of shares held before the sale would have been much higher.

In conclusion, Avenir Capital’s reduced shareholding in Xinhuo Technology Holdings Co. could signal the company’s downward trajectory, and other investors may follow suit. The sale of shares is a bold move by Avenir Capital, and it will be interesting to see how Xinhuo Technology Holdings Co. responds to the sale of shares and its impact on the company’s growth prospects.

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Avenir Capital continues to reduce its shareholding in Xinhuo Technology

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

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