HK-listed MMG drops most since April 2025 on discounted share sale, bonds issue

MMG

16/06/2026 03:27

** Shares of MMG Ltd 1208.HK drop 11.8% to HK$8.59, on course for biggest one-day pct decline since April 2025
** Stock on track to snap three consecutive sessions of gains; top pct loser in the Hang Seng Composite Index on Materials stock .HSCIM, which falls 1.9%
** MMG is seeking to raise about $1.6 bln through a new share placement and a convertible bond sale, according to a term sheet seen by Reuters on Monday, as the Hong Kong-listed global mining company looks to repay debt and fund growth
** Co is raising about HK$6.27 bln ($800.48 mln) through offering of 705.89 mln shares in a share placement at HK$8.88 apiece, representing an 8.8% discount to Monday's close 
** MMG is also selling $800 mln of U.S. dollar zero-coupon convertible bonds due 2027, which are convertible into 613.94 mln new shares, or 4.8% of the enlarged share capital
** YTD, stock down 2.1%, benchmark Hang Seng Index .HSI down 4.3%

($1 = 7.8328 Hong Kong dollars)

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))