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The Straits Times / The Business Times News on HG Metal
HG Metal's half-year gains doubleMay 14, 2005The Straits Times OCBC Bank has extended a $10 million loan to mainboard-listed HG Metal Manufacturing, with an option to convert the loan into shares in the steel stockist. HG Metal said in a statement last Friday that it will use the money to finance future growth. OCBC will be able to convert at least half a million HG Metal shares at any one time over a period of three years. The total number of shares converted would be worth up to $10 million.
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