Stocks News
- Zijin plans A-share listing in Shanghai
Date: 24-Dec-2007 Sources: (Shenzhen Daily)
ZIJIN Mining Group Co. said it planned to issue up to 1.5 billion A shares in a Shanghai listing, which may be worth about HK$14 billion (US$1.79 billion).
The value was based on calculation from Hong Kong-listed Zijin Mining's closing price of HK$10.30 in Hong Kong on Friday.
Zijin Mining, China's second-largest gold miner, said in a statement late Friday it forecast its consolidated profit for the whole of 2007 at 2.5 billion yuan (US$337.84 million), based on international financial reporting standards.
Zijin, which reported a 42 percent rise in net profit to 1.7 billion yuan for 2006, had posted net profit of 1.2 billion yuan for the first half of 2007.
The gold and copper miner said the issue price of its A shares would be determined by market consultation and would not be lower than 90 percent of the closing price of the company's H shares preceding the date of A-share listing prospectus.
An application had been made to the China Securities Regulatory Commission for listing of the A shares, it added.
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