Manila Mining to raise P895M from stock rights offeradmin
Thursday, August 3rd 2006
MANILA Mining Corp. expects to raise about 895 million pesos from a stock rights offer to shareholders, and will use the money to settle debts and fund exploration, the company said.
A Manila Mining statement to the stock exchange says the stock rights offer will also support an increase in its authorized capital stock to 1.8 billion pesos from 1.2 billion pesos.
The company said it was aiming for a record date of August 30 and to start the offer period in late September.
No other details were given.
(One dollar = 51.66 pesos)