Stocks News
- Jiangxi Copper gets nod for share offer
Date: 6-Aug-2007 Sources: (Shenzhen Daily)
JIANXI Copper Co. said Friday it had received conditional approval from regulators to offer new A shares in a private placement expected to raise more than US$500 million.
Jiangxi Copper, China's biggest integrated copper producer, announced in March it would sell up to 290 million new A shares worth about 4 billion yuan (US$528.3 million) to buy assets from its parent, raise output and modernize its mines. The placement with as many as 10 institutional investors will comprise about 9 percent of the firm's expanded share capital, of which 44.63 percent would be issued to its parent, it has said.
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