Shougang Century (HKG:0103) seeks to raise net proceeds of up to HK$158 million from the issue of a maximum of 352,508,727 rights shares, a Tuesday Hong Kong bourse filing said.
The shares will be issued to qualifying shareholders on the basis of three rights shares for every 20 existing shares held at HK$0.455 per rights share.
The steel cord maker will use proceeds from the issue to upgrade its technology, replenish general working capital, and to repay loans and borrowings.
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