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HKG:1091

3 stories mentioning HKG:1091Updated just now

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Asia

South Manganese Investment Raises HK$303.5 Million from Share Placement

South Manganese Investment (HKG:1091) completed the placing of nearly 987.4 million shares to Hanbo Global to raise net proceeds of HK$303.5 million.The shares, placed at HK$0.314 apiece, represent around 16.67% of the company's enlarged issued share capital, according to a Monday disclosure.The manganese producer will use proceeds to repay interest and borrowings, as well as for general working capital.Hanbo Global has become a substantial shareholder of the company.

HKG:1091
Asia

South Manganese Investment to Raise HK$304 Million via Placement; Shares Gain 5%

South Manganese Investment (HKG:1091) plans to raise about HK$303.5 million in net proceeds through a placing of new shares, according to a Tuesday Hong Kong bourse filing.The manganese producer will place up to 987.4 million new shares at HK$0.314 each, an 18.4% discount to the last closing price of HK$0.385.The shares represent 20% of the company's existing issued share capital.Net proceeds will be used mainly to repay bank and other borrowings, with about HK$288.4 million allocated for debt repayment and the remainder for working capital.Shares of the firm were up 5% in Wednesday's morning trade.

HKG:1091
Asia

South Manganese Unit Sells Manganese Processing Equipment

South Manganese Investment (HKG:1091) unit Huiyuan Manganese agreed to sell certain manganese processing-related production equipment and facilities to Guangxi Financial Leasing for 150 million yuan.The lessor will then lease the equipment back to Huiyuan Manganese for 48 months, after which the unit will have the option to repurchase the assets for 1,000 yuan, according to a Friday Hong Kong bourse filing.

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