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Minmetals Development Co Ltd to issue new shares to acquire companies and raise funds


Friday, 3 Jan 2014 07:00pm EST 

Minmetals Development Co Ltd:Says to issue about 794.16 million shares at the price of 12.5 yuan per share, to the company's controlling shareholder, in order to acquire 100 pct stake in MinMetals Hanxing Mining Co., Ltd. and MinMetals Luzhong Mining Co., Ltd., for about 9.927 billion yuan in total.Says the company will also issue new shares at the price of 12.5 yuan per share, to raise up to 25 pct of the total of acquisition amount and fund raising proceeds.Says the funds raised will be used to supplement working capital. 

Company Quote

11.97
0.28 +2.40%
2:59am EDT