Chinese metal producer MMG to raise US$1.6 billion selling stocks and bonds

Chinese metal producer MMG, part of state-backed China Minmetals Corp, plans to raise US$1.6 billion through placement shares and convertible bonds to fund expansion driven by rising demand for metals from AI infrastructure. The company aims to raise HK$6.27 billion (US$800.4 million) by selling 705.9 million shares on the Hong Kong stock exchange.