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Cocoon Holdings Forecasts Increase in H1 Net Loss; Shares Climb 8%

MT Newswires ·  {{timeTz}}

01:48 AM EDT, 08/18/2022 (MT Newswires) -- Cocoon Holdings (HKG:0428) expects its net loss for the six months ended June 30 to rise to between HK$33 million ($4.2 million) and HK$35 million from HK$3 million in the year prior.

The increase in loss is mainly attributed to a significant rise in unrealized loss on listed investments due to the uncertain macro-economic environment.

Interim results announcement of the investment holding company is expected to be released by end-August, according to a bourse filing on Wednesday.

Shares climbed nearly 8% in recent trade.

Price (HKD): $0.36, Change: $+0.02, Percent Change: +7.58%

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