Jinchuan Group International Resources (HKG:2362) completed its top-up placing and subscription, raising HK$388 million, according to a Tuesday filing with the Hong Kong bourse.
The company placed 630 million shares at HK$0.628 per share with an equal number subscribed by the vendor on March 25. The shares account for 20.63% of the enlarged share capital after the issue.
The proceeds will fund the Musonoi Project's deep processing stage, covering construction, equipment, and installation. The remaining funds will support working capital.
Post-deal, total shares of the company increased to 13.13 billion.
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