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mi-m Private ID: 183025495
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    $HSC RESOURCES(01850.HK)$
    ↓ might be the worst (>_<)
    HSC Resources Group (HKG: 1850) plans to issue up to 28.8 million shares in placement agreements to six or more investors, according to Wednesday's filing with the Hong Kong Stock Exchange.
    Fire safety company shares will be sold at HK$0.56 per share. It was declared that the net benefit of the shares to be issued is approximately HK$15.5 million and will be used to repay loans to banking and other financial institutions, eliminate external debt, and fund general business capital.
    Shares surged 13% during Thursday afternoon trading.
    placement agreement
    “Placement” is a process of incorporating money (criminal proceeds) obtained through crime into the financial system or the flow of legal commercial transactions. For example, it is a method of depositing cash, which is criminal proceeds, into an account under a pseudonym or fictitious name of a bank.
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