Shougang Fushan Resources Group Limited (HK:0639) has released an update.
Meet Samuel – Your Personal Investing Prophet
- Start a conversation with TipRanks’ trusted, data-backed investment intelligence
- Ask Samuel about stocks, your portfolio, or the market and get instant, personalized insights in seconds
Shougang Fushan Resources Group Limited intends to raise up to HK$427.0 million through a Rights Issue of up to 164,227,928 shares, aiming to enhance liquidity and prepare for future investment opportunities. This Rights Issue, priced at HK$2.60 per share, offers one Rights Share for every thirty existing shares held by qualifying shareholders. The net proceeds, estimated to be around HK$425.4 million, will be allocated to the company’s general working capital and to bolster its coking coal mining business in China.
For further insights into HK:0639 stock, check out TipRanks’ Stock Analysis page.