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BIZCHINA / Energy/Mining |
China Mining to raise up to US$280m in IPO salesBy ()
Updated: 2007-06-22 11:20 China Mining Resources Group Ltd is selling 1.14 billion new shares to raise up to US$280 million. The company is selling the shares at between HK$1.83 and HK$1.92 apiece. China Mining received its shareholders' approval this month to sell the shares, representing about 19.4 percent of the firm's enlarged share capital, to fund the purchase of a 75.08 percent stake in Harbin Songjiang Copper (Group) Co Ltd, a molybdenum, copper and zinc miner, for 1.81 billion yuan. Morgan Stanley is the sole bookrunner of the deal. (For more biz stories, please visit Industry Updates)
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