Wanguo International Completes HK$722 Million Share Sale to Victor Soar Investments
MT Newswires Live
Sep 04
Wanguo International Mining Group (HKG:3939) completed the sale of 22.5 million shares at HK$32.55 apiece to Victor Soar Investments, a substantial shareholder of the company, according to a Hong Kong bourse filing Wednesday.
Shares of the gold miner fell over 7% in late-morning trade Thursday.
The firm raised HK$721.8 million in net proceeds via the sale, which it previously said would be used to develop its Gold Ridge mine.
The sale was concurrent with Victor Soar Investments selling an equal number of existing shares to new investors, which also took place.
Meanwhile, Prominence Investment, which owned 3.71% of the business, lowered its stake by 0.69% via the sale of 7.5 million shares.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.