Shanghai XNG Terminates HK$12 Million Share Placement

MT Newswires Live

03/02

Shanghai XNG (HKG:3666) is terminating a previously announced share placement, according to a Hong Kong bourse filing Monday.

The firm was looking to raise HK$12.4 million via the sale of 442.6 million shares priced at HK$0.028 apiece.

The offering was meant to raise funds for general working capital.

Shanghai XNG said the termination will have no material adverse impact on the company's operations or financial position.

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