JX Energy to Issue 210 Million Shares to Settle Debt Owed to Chairman
MT Newswires Live
Nov 03, 2025
JX Energy (HKG:3395) said it will issue 210 million new shares at HK$0.30 each to settle debt owed to its chairman, Yongtan Liu, according to a Monday Hong Kong bourse filing.
The shareholder loan of about HK$21.3 million will be settled in full, while about HK$41.7 million of outstanding debt will be converted into shares.
The share issue, subject to shareholder approval under a specific mandate, aims to reduce gearing and strengthen the balance sheet without using internal cash resources, according to the filing.
Shares of the firm were up nearly 2% in Monday morning trade.
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