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An announcement from JL MAG Rare-Earth Co., Ltd. Class H ( (HK:6680) ) is now available.
JL MAG Rare-Earth Co., Ltd. has announced a change in the use of proceeds from its global offering, which initially raised approximately HK$4,032.1 million. As of the announcement date, HK$3,775.6 million has been utilized, with HK$256.5 million remaining unutilized. The board has approved this change, pending shareholder approval, with the remaining funds expected to be used for potential acquisitions and working capital by the end of 2025. This decision reflects the company’s strategic adjustments to optimize its financial resources and strengthen its market position.
More about JL MAG Rare-Earth Co., Ltd. Class H
JL MAG Rare-Earth Co., Ltd. is a joint stock limited company incorporated in the People’s Republic of China. It operates in the rare-earth industry, focusing on the production and development of magnetic components and related products. The company is involved in various projects including production bases in Ningbo and Baotou, and a new production project in Mexico.
YTD Price Performance: 69.01%
Average Trading Volume: 9,516,066
Technical Sentiment Signal: Sell
Current Market Cap: HK$27.48B
For detailed information about 6680 stock, go to TipRanks’ Stock Analysis page.