Money

China Gold plans up to $311m HK IPO

(Agencies)
Updated: 2010-11-11 13:28

HONG KONG - China Gold International Resources Corp Ltd plans to raise up to $311.2 million in an initial public offering in Hong Kong later in November, according to a term sheet seen by Reuters on Thursday.

The Chinese gold miner plans to sell 53.66 million shares at an indicative price range of HK$37.21 to HK$44.96 each in an IPO, raising capital to expand production of its Jiama Mine, to fund acquisition of gold and non-ferrous mineral resources outside China, and to fund exploration activities.

The issue will be priced on Nov 22 and dealing in the shares is expected to begin on Nov 30.

BOC International is the joint bookrunner and joint lead manager of the issue.