Xinyang Maojian Group (HK:0362) has released an update.
Xinyang Maojian Group has announced an agreement to issue 300 million new shares at HK$0.1 each, aiming to raise gross proceeds of HK$30 million. The net proceeds, expected to be around HK$29.4 million after expenses, are intended for debt repayment and general working capital. The placement is subject to shareholder approval and may not proceed.
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