Hunnan Nonferrous raises $154.81 mln from share placement

Hong Kong-listed Hunan Nonferrous Metals Corporation Ltd. intends to raise a total of HKD 1.21 billion($154.81 million) through a share placement on the Hong Kong Stock Exchange, according to a company announcement released on Tuesday.

According to the announcement, Hunan Nonferrous will issue 272.12million H-shares at a per-share-price of HKD 4.93 ($0.63), increasing the total number of company H-shares by approximately 20 percent.

The shares to be issued include 247.38 million new H-shares and 24.74million H-shares, converted from the same number of domestic state-owned shares, through the National Social Security Fund Council of China, according to the announcement.

"The share placement was completed by the close of trade yesterday," a Hunan Nonferrous general affairs department official, surnamed Xu, said today.

"The fund raised from the placement will be used to finance several overseas mining rights acquisitions concerning lead, zinc, tungsten and antimony," Xu said.

However, he declined to comment on any acquisition plan details. Hunan Nonferrous suspended stock trading on July 10 and resumed trading yesterday.

Hunan Nonferrous is China's largest comprehensive base metals producer and owns the world's largest tungsten and antimony mines

Pls let us know if you are interesting in it. with any question, ask me freely.Tks you.
Sam Xu
Contact me:
MSN: xubiao_1996@hotmail.com
GMAIL: samjiefu@gmail.com
SKPYE:jiefu1996


Chinese antimony market