MTL plans to issue additional shares to its controlling shareholder to raise CNY 595 million for replenishing working capital and repaying debts

According to the Zhitong Finance APP, MTL (600683.SH) has announced a plan for the issuance of A-shares to specific targets for the year 2024. The target for this issuance is the company's controlling shareholder, MTL Company. The issuance price is set at 4.47 yuan per share, with a total of 133 million shares to be issued, not exceeding 30.00% of the company's total share capital prior to this issuance. The total amount of funds to be raised from this issuance is expected to be 595 million yuan, with the net proceeds after deducting issuance costs intended to be used entirely for replenishing working capital and repaying interest-bearing debts