HG Metal Manufacturing Updates Proceeds Use From Placements And Rights Issue

SGX Filings

2025/12/26

HG Metal Manufacturing said on Dec, 26 2025 it has provided an update on how it is using the net proceeds raised from three share placements completed on Sept, 19 2023, Jun, 28 2024 and Aug, 15 2024, as well as a rights issue completed on Dec, 16 2024.

The company collected a combined 39.378 million Singapore dollars in net proceeds. Of this, 2.858 million Singapore dollars has been utilised, primarily to settle the remaining balance for its subscription of preference shares in Eden Flame Sdn Bhd.

After the latest disbursement, 25.908 million Singapore dollars remains unutilised. The balance is earmarked for general working capital, capital expenditure, business expansion, and potential strategic investments or acquisitions, in line with earlier allocation plans disclosed to shareholders.

HG Metal Manufacturing said it will continue to update shareholders when material amounts of the proceeds are deployed.

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