Zhaojin Mining Industry Co ( (HK:1818) ) just unveiled an announcement.
Zhaojin Mining Industry Co., Ltd. announced a placement of new H shares under a general mandate, aiming to issue up to 140 million new H shares at HK$14.16 per share. The placement is expected to raise approximately HK$1,970.5 million in net proceeds, which will be used to replenish working capital and repay bank loans. The completion of this placement is contingent upon certain conditions, and the company has applied for the listing of these shares. This move is likely to impact the company’s financial stability by improving liquidity and reducing debt, potentially enhancing its market position.
More about Zhaojin Mining Industry Co
Zhaojin Mining Industry Co., Ltd. is a joint stock limited company incorporated in the People’s Republic of China. It operates in the mining industry, focusing primarily on the extraction and production of gold. The company is listed on the Hong Kong Stock Exchange under the stock code 1818.
YTD Price Performance: 32.20%
Technical Sentiment Signal: Strong Sell
Current Market Cap: $6.58B
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