HG Metal Manufacturing Limited (SG:BTG) has released an update.
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Green Esteel Pte. Ltd. has committed to subscribing to a significant number of shares in HG Metal Manufacturing Limited through a rights issue, potentially increasing its stake in the company to over 30%. This move could trigger an obligation for Green Esteel to make a mandatory general offer for the remaining shares, in accordance with Singapore’s takeover regulations. The dealings, involving over 74 million shares, highlight Green Esteel’s strategic investment position in HG Metal.
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