South Manganese Investment Limited has announced its strategy to place a maximum of 822,830,160 new shares under a general mandate. The primary goal of this initiative is to generate approximately HK$180.44 million in net proceeds after deducting related expenses. The company plans to utilize these funds to repay bank borrowings with earlier maturity dates, specifically targeting loans from the Industrial and Commercial Bank of China (Daxin Branch) and Guangxi Beibu Gulf Bank (Jiangnan Branch and Nanning Branch). This financial maneuver aims to manage the company's debt obligations effectively.
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