---
title: "MTL plans to issue additional shares to its controlling shareholder to raise CNY 595 million for replenishing working capital and repaying debts"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/223675008.md"
description: "MTL plans to issue additional A-shares to its controlling shareholder, JingTou Company, at an issue price of RMB 4.47 per share, with a total issuance of 133 million shares, raising a total of RMB 595 million. The raised funds will be used to supplement working capital and repay debts"
datetime: "2024-12-31T12:39:03.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/223675008.md)
  - [en](https://longbridge.com/en/news/223675008.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/223675008.md)
---

# 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

### Related Stocks

- [600683.CN](https://longbridge.com/en/quote/600683.CN.md)

## Related News & Research

- [Innventure directors force management, board to forfeit Accelsius earnout shares tied to DarkNX order](https://longbridge.com/en/news/296352522.md)
- [Thales, Systematic partner to boost Danish air defense capabilities](https://longbridge.com/en/news/296363485.md)
- [Trainline says cooperating with CMA investigation into fee transparency](https://longbridge.com/en/news/296312302.md)
- [08:18 ETLuminar Capital Closes $5 Million Senior Secured Credit Facility, Scalable to $15 Million](https://longbridge.com/en/news/296227261.md)
- [XSpray Pharma receives FDA complete response letter for Dasynoc over GMP issues at contract manufacturer](https://longbridge.com/en/news/296285939.md)