MMG Limited (ASX: MMG) has entered into a placement agreement with a placing agent for the issuance of approximately 706 million new shares at a price of HK$8.88 each.

The placement price represents a discount of approximately 8.8% to the closing price of HK$9.74 per share on June 15, 2026.

The net proceeds from the share placement are expected to be approximately HK$6.253 billion.

These funds are intended for the refinancing of existing loans, supporting the development and expansion of existing projects, financing strategic acquisitions and investments, and supplementing working capital and general corporate purposes.

Separately, the company has entered into a subscription agreement with arrangers for the issuance of convertible bonds with an aggregate principal amount of US$800 million.

The bonds will be issued at 102% of their principal amount.

The initial conversion price for the bonds is set at HK$10.21 per share, representing a premium of approximately 4.8% over the closing price of HK$9.74 on June 15, 2026.

Upon completion of the bond issue, the company expects to raise net proceeds of approximately US$813 million.

These proceeds are earmarked for the same purposes as the equity placement proceeds, namely refinancing existing debt, funding project development and expansion, supporting strategic acquisitions, and providing working capital and general corporate funding.