Nihao set to raise capital to fund P500-M stock offer
October 13th, 2009
Filed under: General News
Miguel R. Camus / Reporter
LISTED miner Nihao Mineral Resources Inc. will increase its capital 20-fold to support its P500-million stock rights offering, the proceeds of which will be used to fund the company’s mining activities and pay off shareholder advances.
In a prospectus filed with local stock exchange, the miner said it plans to increase its capital stock to P2 billion from the present P100 million.
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