Sanergy Group (HKG:2459) is looking to raise up to HK$45.6 million via a 1-for-2 rights issue, according to a Hong Kong bourse filing Monday.
Shares fell over 3% in morning trade Tuesday.
The manufacturer of graphite electrodes will offer eligible shareholders 1 new share for every 2 held in the company at HK$0.08 each. The total number of shares available under the rights issue is 570 million.
Any shares that are unsubscribed will be offered to uSMART Securities and Sinomax Securities for placement on a best effort basis by Aug. 20.
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