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Minmetals Land to raise up to $46 mln in share sale

Thu Aug 13, 2009 5:16am EDT

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HONG KONG, Aug 13 (Reuters) - Property developer Minmetals Land (0230.HK) is selling 170 million shares to raise up to HK$357.4 million ($46.1 million) to fund land acquisitions and develop new projects, according to a term sheet.

The shares are on offer at HK$2.01 to HK$2.10 each, representing a discount of between 9 to 13 percent to their close on Aug. 13 at HK$2.31.

BOCI is the sole arranger of the deal. (Reporting by Leonora Walet; Editing by Jacqueline Wong)



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