Herbert Smith Freehills advised MMG Limited (01208.HK) on the deal.
MMG Limited (01208.HK) placed new shares on the Hong Kong Stock Exchange.
MMG Limited is a subsidiary of state-owned mining conglomerate China Minmetals Corporation (CMC), with interests in copper, zinc and other metals projects across Australia, the Democratic Republic of the Congo and Peru.
The placement comprises 565,000,000 new shares at a price of HK$4.15 per share. These shares account for approximately 7.00% of the existing issued share capital of MMG and approximately 6.54% of the issued share capital as increased by the placement. Proceeds from the placement and subscription will be used for potential acquisitions or projects, and for the company’s general working capital.
Partners Matt Emsley (Picture – Hong Kong), Tim McEwen (Melbourne) and Jeremy Shen (Hong Kong) jointly led a Hong Kong-Melbourne team advising MMG on the placement, assisted by associate Aaron Li and trainee solicitor Yuanchao Bi in Hong Kong.
Law Firms: Herbert Smith Freehills;
Clients: MMG Ltd.;