MMG Limited Plans Major Rights Issue

MMG (HK:1208) has released an update.

MMG Limited, aiming to raise approximately HK$9 billion, has announced a rights issue of over 3.46 billion shares at HK$2.62 each, adhering to a ratio of 2 rights shares for every 5 owned on the record date. The proceeds will be directed towards debt repayment, fostering the growth of the company’s operational mines. Notably, a major shareholder has committed to fully subscribing to their entitlement, bolstering confidence in the initiative.

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