Sanergy Group Ltd. said it has completed a private placement of 228 million new shares under its general mandate, placed at HK$0.083 per share to at least six professional and institutional investors. The placing raised gross proceeds of about HK$18.9 million and net proceeds of about HK$18.4 million, with funds to be split between developing its graphite electrodes business and general corporate purposes. Following the issue, total shares outstanding increased to 1.938 billion.

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