Summary by Moomoo AI
Zhongxin Mining Co., Ltd. (stock code: 1818) announces that all preconditions for the distribution of new H shares under the general authorization have been fulfilled and completed successfully on April 22, 2024. THE DISTRIBUTION TOTALS 132,000,000 SHARES OF NEW H SHARES, REPRESENTING APPROXIMATELY 4.81% OF THE EXPANDED H SHARES, AND APPROXIMATELY 3.88% OF THE ISSUED SHARES AT A PRICE OF HK$13.20 PER SHARE. The net proceeds from the divestiture of approximately HK$1,725.3 million will be used to supplement working capital and repay bank loans. After the distribution, the total number of shares issued by the company increased to 3,402,393,204 shares, the total number of H shares increased to 2,741,555,597 shares, and the number of equity shares remained unchanged at 660,837,607 shares. After the sale is completed, the unaffiliated person becomes the principal shareholder of the company.