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Kinetic Mines & Energy Ltd. ( (HK:1277) ) has shared an update.
Kinetic Development Group Limited, a company incorporated in the Cayman Islands, is involved in a transaction concerning the subscription of shares in MC Mining. The company has announced an amendment to its share subscription agreement with MC Mining, which includes changes to the arrangements for the Second Closings. The First Closing resulted in the acquisition of 62,102,002 shares, representing 13.04% of MC Mining’s total issued shares. The amendment aims for Kinetic to hold 51% of MC Mining’s shares on a fully diluted basis after the Second Closings, with a total purchase price of US$77,029,412.
More about Kinetic Mines & Energy Ltd.
YTD Price Performance: -13.95%
Average Trading Volume: 6,272,920
Technical Sentiment Consensus Rating: Sell
Current Market Cap: HK$9.36B
See more insights into 1277 stock on TipRanks’ Stock Analysis page.
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