Allied Group Plans Up to HK$570 Million Investment in APAC Resources
Da Yu Financial Unit to Underwrite Rights Offering
HK Market Alert | Asia Pacific Resources (01104) Plunges Over 33% Intrady on Proposed 1-for-2 Rights Issue to Raise Up to HK$1.08 Billion at a Subscription Price Discount of Approximately 33%
Asia Pacific Resources (01104.HK) fell by more than 33% at one point; as of the time of writing, it was down 27.98% at HK$1.57, with a trading volume of HK$36.4053 million.
Allied Group Deepens Stake in APAC Resources Through HK$570 Million Rights Issue Commitment
Asia Pacific Resources (01104) proposes to issue rights shares on a 1-for-2 basis at a discount of approximately 33.49%.
Asia Pacific Resources (01104) announced that the company proposes, on a basis of 1 rights share for every 2 existing shares, to offer new shares at an issue price of HK$1.45 per rights share, representing a discount of approximately 33.49%, to raise gross proceeds of up to approximately HK$1.083 billion through the issuance of approximately 747 million rights shares (assuming no change in the number of issued shares as of the record date); or alternatively, to raise gross proceeds of up to approximately HK$1.18 billion through the issuance of approximately 814 million rights shares (assuming no change in the number of issued shares as of the record date, except for new shares to be allotted and issued upon full exercise of outstanding warrants).
APAC Resources Ceases to Be Substantial Holder in Maronan Metals
APAC Resources Reports Unaudited NAV Per Share of HK$5.06
Express News | MIIT: The national replacement ratio for iron smelting and steelmaking capacity shall be no less than 1.5:1.
Stock Movement in Hong Kong | Asia Pacific Resources (01104) Surges Over 3% as Asia Pacific Resources Mining Plans to Subscribe for 544 Million Shares of Tanami Gold
Asia Pacific Resources (01104) surged over 3%. As of the time of writing, it had risen by 3.11%, trading at HKD 2.65, with a turnover of HKD 9.6994 million.
Asia Pacific Resources (01104.HK) plans to invest 1.85 billion Hong Kong dollars to subscribe for Tanami Gold's rights issue, increasing its stake to 46.3%.
Gelonghui, May 8th丨APAC Resources (01104.HK) announced that Tanami Gold had contacted the company regarding the Tanami rights issue and inquired whether the group would subscribe to its rights issue quota. On May 7, 2026, APAC Resources Mining signed a confirmation letter, agreeing to subscribe to its rights issue quota under the Tanami rights issue, which amounts to approximately 544 million shares of Tanami Gold (equivalent to about 46.30% of Tanami Gold's enlarged issued share capital after the completion of the Tanami rights issue), for an amount of approximately AUD 32.641 million (equivalent to approximately
APAC Resources Switches Auditor to Deloitte to Align With Controlling Shareholder
Asia Pacific Resources (01104) has appointed Deloitte as its new auditor.
Asia Pacific Resources (01104) announced that, following the completion of the interim review of the Group's financial statements for the six months ended December 31, 2025, by BDO Hong Kong Limited (BDO), the Group invited professional accounting firms, including BDO, to submit proposals for providing annual audit and interim review services for a new term, for negotiation and evaluation. Subsequently, the Group's management proposed to BDO the replacement of the auditor in order to align the Company’s audit arrangements with those of its controlling shareholder and enhance the efficiency of audit services. For these reasons, BDO has resigned as the Group's auditor, effective from April 27, 2026.
As of the end of February, the comprehensive net asset value per share of Asia Pacific Resources (01104) was approximately HKD 5.84.
Asia Pacific Resources (01104) announced that, as of February 28, 2026, based on the company's unaudited consolidated management accounts and the market value of listed investments (adjusted to reflect the market price of its investments in listed associated companies), the unaudited consolidated net asset value per share of the company is approximately HKD 5.84.
Did Trump 'show leniency'? Major adjustments to metal tariffs, but the 50% punitive measure remains firmly in place.
Products containing less than 15% steel, aluminum, or copper are exempt from tariffs, while products made purely of American metals are subject to only a 10% tariff—Trump has made a “humanized” adjustment to the metal tariffs. However, don’t celebrate too soon: A wide range of derivatives, such as steel pipes, still face a full 50% tariff.
Official Announcement: The United States imposes a 25% tariff on steel, aluminum, and copper finished products, and a 100% tariff on patented drugs, but grants exemptions in accordance with agreements.
The White House announced that, under Section 232 of the Trade Act of 1962, a unified 25% tariff will be imposed on imported steel, aluminum, and copper as well as their manufactured products and derivatives. Products containing 15% or less of steel, aluminum, or copper are exempt from such tariffs. Under the same provision, a 100% tariff will be levied on branded or patented imported pharmaceuticals. If the drugs are produced in regions or countries like the EU that have signed trade agreements with the United States, a preferential tariff rate of 15% will apply. Enterprises that sign most-favored-nation pricing agreements and production repatriation agreements with the U.S. will enjoy duty-free status until 2029.
Express News | The US Adjusts Tariffs on Steel, Aluminum, and Copper: Low Content Exempt, High Content Taxed Based on Product Value
Express News | Trump proposes to overhaul steel and aluminum tariffs: a unified 25% tax on finished products to replace the previous 50% tariff based on metal value.
Four days later, the US and Israel took action again, with Iran claiming that a key domestic steel plant was attacked on Tuesday.
Mobarakeh and Khuzestan Steel plants collectively account for nearly half of Iran's steel industry output. Iran is a key steel exporter in the Middle East and Asian markets, particularly holding a significant share in the plate and billet segments.
APAC Resources Completes Move of Corporate Domicile From Bermuda to Hong Kong
As of the end of January, the comprehensive net asset value per share of Asia Pacific Resources (01104) was approximately HKD 5.33.
Asia Pacific Resources (01104) announced that, as of January 31, 2026, based on the unaudited consolidated management accounts of the company and the market value of listed investments (adjusted to reflect the market price of its investments in listed associated companies), the unaudited consolidated net asset value per share of the company is approximately HKD 5.33.