HG Metal Manufacturing Limited (SG:BTG) has released an update.
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HG Metal Manufacturing Limited has announced significant dealings involving the lapse of rights for over 13 million provisionally allotted shares by director Xiao Xia and major shareholder Yu Zengqiang. This development is part of the company’s ongoing rights issue, which may lead to Green Esteel and its concert parties potentially owning a substantial stake in the company, triggering a mandatory offer under Singapore’s Code on Take-overs and Mergers.
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