Shougang Fushan Resources Group (HKG:0639) plans to raise HK$427 million through a rights issue, offering shareholders the opportunity to purchase one new share for every 30 shares held, according to a Monday filing with the Hong Kong bourse.
About 164.2 million shares may be issued for a price of HK$2.60 per share. The rights issue will amount to about 3.2% of the enlarged issued share capital.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.