CHONGQING IRON plans to issue A shares to Huabao Investment to raise up to 1 billion RMB
CHONGQING IRON (01053.HK)(601005.SH) announced that it plans to issue A shares to a specific entity, HuaBao Investment, at an issuance price of 1.32 RMB per share, with a total fundraising amount not exceeding 1 billion RMB, which will be used to repay bank loans and supplement working capital. Upon completion, HuaBao Investment and its concerted parties are expected to hold more than 30% of the company's equity
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