Yankuang Energy Group Company Limited Class H (HK:1171) has released an update.
Yankuang Energy Group Company Limited has announced an agreement to place 285 million new H shares at a price of HK$17.39 per share, a discount from recent closing prices, potentially raising gross proceeds of approximately HK$4.956 billion. The placement, which represents about 10% of the existing issued H shares, will proceed under the general mandate from the shareholders, with no additional shareholder approval required. The deal is conditional and subject to the satisfaction of certain terms, with the placing shares to be listed on the Hong Kong Stock Exchange.
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