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Dragon Mining ( (HK:1712) ) just unveiled an announcement.
Dragon Mining Limited has entered into a scheme implementation deed to reorganise its corporate structure so that a new Hong Kong–incorporated company, Dragon Gold Mining Limited, becomes the ultimate holding company of the group. Existing shareholders, other than any non-qualifying overseas investors, are expected to receive one share in the new Hong Kong entity for every share they hold in the current Australian company.
Under the scheme of arrangement, all existing shares in Dragon Mining will be cancelled and replaced, with Dragon Gold Mining issuing new shares that mirror current ownership proportions while the Australian company becomes its subsidiary. Upon completion, Dragon Mining’s listing will be withdrawn and Dragon Gold Mining will seek a Main Board listing in its place, effectively shifting the group’s primary listing and corporate domicile to Hong Kong without altering underlying operations.
More about Dragon Mining
Dragon Mining Limited is an Australia-incorporated gold mining company whose corporate reorganisation will place a new Hong Kong–domiciled entity, Dragon Gold Mining Limited, at the top of its group structure. The group will continue to own and operate the same assets and businesses following the change of holding company and proposed Hong Kong Main Board listing by way of introduction.
Average Trading Volume: 2,076,807
Technical Sentiment Signal: Buy
Current Market Cap: HK$1.52B
See more insights into 1712 stock on TipRanks’ Stock Analysis page.