MMG Seeks $500 Million via Debt Offering; Shares Up 9%
MT Newswires Live
Sep 30
MMG (HKG:1208) announced plans to raise $500 million via a debt offering, according to a Hong Kong bourse filing Tuesday.
The mining company is looking to raise funds via the issue of zero-coupon convertible bonds due Oct. 8, 2030.
The bonds convert at an initial conversion price of HK$8.40 per share for a total of 463,113,095 shares.
The stocks represent around 3.81% of the company's issued share capital, and 3.67% on an enlarged basis.
Merrill Lynch (Asia Pacific) and CLSA are serving as managers for the bond offering.
Shares of the company rose 9% Tuesday morning in Hong Kong.
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.