On June 16, MMG Limited fell 8.42% in regular trading, trading at HK$8.88/share, with turnover of HK$207 million. The sharp decline was triggered by the company's announcement of a significant equity and debt financing plan.

MMG announced the placement of approximately 706 million new shares at HK$8.88 per share, representing a discount of approximately 8.8% to the June 15 closing price of HK$9.74. The placement is expected to raise net proceeds of approximately HK$6.253 billion. Simultaneously, the company will issue US$800 million in zero-coupon convertible bonds due 2027, with an initial conversion price of HK$10.21, raising estimated net proceeds of approximately US$813 million. The combined fundraising totals approximately HK$12.623 billion, earmarked for refinancing existing shareholder loans and external borrowings, supporting project development and expansion, funding strategic acquisitions and investments, and supplementing working capital.

Within the Diversified Metals and Mining sector, the overall sector declined. Among individual stocks, CMOC down 0.85%, Jiaxin International Resources down 5.81%, Wanguo Gold Group down 0.99%, Ximei Resources down 1.36%, Lygend Resources down 1.33%.

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