HG Metal Manufacturing Limited (SG:BTG) has released an update.
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Green Esteel Pte. Ltd. has committed to subscribing to a significant number of shares in HG Metal Manufacturing Limited through a rights issue, potentially increasing its stake in the company to over 30%. This move could trigger an obligation for Green Esteel to make a mandatory general offer for the remaining shares, in accordance with Singapore’s takeover regulations. The dealings, involving over 74 million shares, highlight Green Esteel’s strategic investment position in HG Metal.
For further insights into SG:BTG stock, check out TipRanks’ Stock Analysis page.
