HK's Fushan in $253m sharesale to fund China buys

HONG KONG, June 21 (Reuters) - Coking and coal products maker Fushan International Energy Group Ltd (0639.HK) plans to sell HK$1.97 billion ($252.6 million) worth of new shares, raising capital to fund acquisitions, the firm said late on Friday.

Fushan will sell 410 million new shares, representing 8.99 percent of its enlarged share capital, at HK$4.80 apiece, it said.

The issue price represents a discount of 6.07 percent to Fushan's closing price of HK$5.11 on Thursday ahead of a trading suspension. Trading in its shares will resume on Monday.

The net proceeds of about HK$1.92 billion will go to settle a part of the cash consideration for a recent acquisition.

Fushan said in May it would buy coking coal mining assets in China for HK$10.53 billion in a deal to be settled in cash and through the issue of new shares. (US$1=HK$7.8) (Reporting by Donny Kwok; Editing by Clarence Fernandez)