Sanergy Group Completes Major Share Placement

Sanergy Group Ltd. (HK:2459) has released an update.

Sanergy Group Limited has successfully completed the placement of 50,000,000 existing shares and the top-up subscription of an equal number of new shares at a price of HK$0.325 each, significantly altering the company’s shareholding structure. The net proceeds from the subscription, estimated at approximately HK$15.9 million, will be invested in the development of the company’s graphite electrodes business and for general corporate purposes. The transaction did not result in any new substantial shareholders, maintaining the independence of the company’s ownership.

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