Dragon Mining Limited Completes HK$172.8 Million Private Placement of New Shares Under General Mandate
Reuters
Sep 22
<a href="https://laohu8.com/S/01712">Dragon Mining</a> Limited Completes HK$172.8 Million Private Placement of New Shares Under General Mandate
Dragon Mining Limited has successfully completed the placing of new shares under a general mandate. The company placed a total of 31,619,322 new shares at a price of HK$5.61 per share, raising approximately HK$172.8 million in net proceeds after deduction of related expenses. These funds are earmarked for the acquisition of a Mining Contractor Business, settlement of environmental bonds, upgrades to processing facilities in Finland and Sweden, and development costs at the Svartliden mining site. The placement represents 20% of the company's issued shares prior to the transaction and 16.67% following the placement. The shareholding structure has been updated accordingly, with Allied Properties Resources Limited holding 24.71% and public shareholders holding 58.62% of the total shares post-completion.
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