South Manganese Investment (HKG:1091) completed the sale of 822,830,160 shares at HK$0.224 apiece to raise HK$180.4 million in net proceeds, a Monday Hong Kong bourse filing said.
Shares of the manganese company fell over 1% in recent Tuesday trade.
The shares were sold to Honor Aim and represent around 16.67% of the manganese company's enlarged issued share capital.
The firm will use proceeds from the placement to repay bank borrowings.
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