China Zijin Mining raises $1.43 bln in Shanghai IPO

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HONG KONG, April 18 (Reuters) - Zijin Mining Group Co Ltd (2899.HK) (601899.SS), China's second-biggest gold miner, plans to raise 9.98 billion yuan ($1.43 billion) after it priced its Shanghai share sale at the top of an indicative range.

Zijin said on Friday it would issue 1.4 billion A shares at 7.13 yuan apiece, just days after it cut its fund-raising target from 1.5 billion shares amid a sluggish domestic market.

Zijin's Hong Kong-listed shares closed at HK$7.62 on Thursday.

The company had set its price range at a premium to its Hong Kong share price, at 6.88 yuan to 7.13 yuan apiece for the Shanghai initial public offering, according to sources.

Zijin will use the proceeds from the share sale to fund expansion projects, mainly involving the mining and processing of gold and copper.

The mainland share sale, which was announced last December, has been delayed partly by a slide in China's stock market. The country's main Shanghai stock index .SSEC has fallen about 47 percent since its peak hit last October.

(US$1=HK$7.8=6.983 yuan) (Reporting by Donny Kwok; Editing by Anne Marie Roantree)