Rare Earth Magnesium Proposes Rights Issue to Boost Growth

Rare Earth Magnesium Technology Group Holdings Ltd. (HK:0601) has released an update.

Rare Earth Magnesium Technology Group Holdings Ltd. has announced a proposed rights issue, offering one rights share for every two existing shares at a subscription price of HK$0.110 per share. The move aims to raise up to HK$33.24 million, with proceeds earmarked for updating production facilities, supporting their magnesium business, and covering operational expenses. The rights issue is fully underwritten, ensuring financial backing to bolster the company’s growth strategies.

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