---
title: "Iron Resource plans to issue a rights offering at a discount of approximately 16.39% based on a \"2 for 1\" ratio to raise up to approximately HKD 326 million"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/262656342.md"
description: "IRC plans to issue up to approximately 639 million rights shares on a \"2 for 1\" basis, at HKD 0.51 per share, representing a discount of about 16.39%. This rights issue is expected to raise up to approximately HKD 326 million, with a net amount of about HKD 324 million, of which 68% will be used to repay the principal of MIC loans, 22% for K&S mining operations, and 10% to supplement general working capital"
datetime: "2025-10-24T14:26:02.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/262656342.md)
  - [en](https://longbridge.com/en/news/262656342.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/262656342.md)
---

# Iron Resource plans to issue a rights offering at a discount of approximately 16.39% based on a "2 for 1" ratio to raise up to approximately HKD 326 million

According to the Zhitong Finance APP, IRC (01029) announced that the company proposes to issue up to approximately 639 million rights shares on a non-underwritten basis, at a "2 for 1" basis, with each rights share priced at HKD 0.51, representing a discount of approximately 16.39% to the closing price of HKD 0.610 per share reported on the last trading day on the Stock Exchange, in order to raise up to approximately HKD 326 million.

The estimated net proceeds from the rights issue are approximately HKD 324 million, with 68% used to fully repay the principal of the loans payable to MIC, 22% allocated to K&S's mining business, and 10% for general working capital

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- [01029.HK](https://longbridge.com/en/quote/01029.HK.md)

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