HKG:1277

4 stories mentioning HKG:1277Updated 10d ago

Every FINWIRES story that references HKG:1277, newest first.

Kinetic Development to Invest Up to $16 Million in MC Mining

Kinetic Development (HKG:1277) agreed to subscribe for up to $16 million of shares in MC Mining (ASX:MCM), an indirect non-wholly owned subsidiary, according to a Thursday Hong Kong bourse filing.The company will subscribe for $8 million in shares at each of two closings and provide an $8 million bridge loan to fund MC Mining's operations and working capital.The loan will carry interest at the Australian Reserve Bank Rate plus 3%, the filing said.Shares of Kinetic were up nearly 4% in Friday morning trade.

ASX:MCMHKG:1277

Asia14d ago

Kinetic Development Expects Up to 40% Rise in Interim Profit; Shares Jump 9%

Kinetic Development Group (HKG:1277) expects net profit of 730 million yuan to 780 million yuan for the six months ended June 30, up 31% to 40% year over year, based on preliminary unaudited results.The company attributed the growth mainly to an 18% rise in average coal selling prices, while average product costs fell 9% to 12%, according to a Monday Hong Kong bourse filing. Administrative and selling expenses also declined by about 5% to 7%.Shares of the company jumped 9% in recent trade.

HKG:1277

Asia46d ago

Kinetic Development Acquires Property Developer in Property Swap Deal

Kinetic Development Group (HKG:1277) unit Shanxi Kinetic Yingtong Real Estate Development completed the acquisition of Taiyuan Seedland Taijing Real Estate Development from the Seedland group following regulatory approval, according to a Thursday Hong Kong bourse filing.The Hong Kong-listed developer had initially entered agreements in 2022 to acquire a portfolio of properties from Seedland.In December, it signed a supplemental agreement to give up the unregistered properties and instead acquire Taiyuan Seedland Taijing Real Estate Development, a Chinese real estate developer.Following acquisition completion, a prepayment of 803 million yuan made by Kinetic Development unit Kinetic (Qinhuangdao) Energy Group for the purchase of the properties has been fully offset, the filing said.

HKG:1277

Asia73d ago

Kinetic Development to Participate in MC Mining Debt Offering

Kinetic Development Group (HKG:1277) will subscribe for $6.1 million of MC Mining's (ASX:MCM) $9.9 million debt offering, according to a Thursday filing with the Hong Kong bourse.The one-year notes will be convertible into shares of MC Mining at an initial rate of $0.2089 each.The Australia-listed group, which is an indirect non-wholly owned subsidiary of the Hong Kong-listed coal producer, earmarked proceeds for the construction and commissioning of its flagship Makhado hard coking coal project in South Africa, as well as for general working capital needs.

ASX:MCMHKG:1277

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