Shougang Fushan’s Rights Issue to Bolster Capital

Shougang Fushan Resources Group Limited (HK:0639) has released an update.

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.

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