Manhattan Corp Launches Share Entitlement Offer

Manhattan Corporation Limited (AU:MHC) has released an update.

Manhattan Corporation Limited has opened an entitlement offer to its shareholders to subscribe for new shares, aiming to raise approximately $1.5 million for project development and general corporate purposes. The offer, which is not underwritten, allows eligible shareholders to purchase one new share for every two shares they hold at a price of $0.001 each. The company also plans to consolidate its securities on a 20:1 basis, subject to shareholder approval.

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