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The Straits Times / The Business Times News on HG Metal
HG Metal stakeholders place out 6.8m sharesJanuary 04, 2005The Business Times ABOUT five existing shareholders of steel stockist HG Metal Manufacturing have sold 6.8 million shares in a private placement at 64 cents apiece, said sources close to the deal. BT understands that the shares were bought by five or six 'high net worth individuals' involved in the oil and gas and marine industries, and that the trades were crossed in the late afternoon yesterday. HG Metal, which intends to pay dividends of 1.5 cents per share and a one-for-three bonus share issue in the coming weeks for its FY2004 results, closed unchanged at 68.5 cents yesterday. In total, 16 million HG Metal shares changed hands yesterday, making it the sixth most active stock on the Singapore Exchange.
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