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Zijin Mining plans to sell $1.2B in new shares to fund Nevsun deal

Published 01/02/2019, 09:15 AM
Updated 01/02/2019, 09:15 AM
© Reuters.  Zijin Mining plans to sell $1.2B in new shares to fund Nevsun deal
  • Zijin Mining (OTCPK:ZIJMF) says it plans to sell as much as 8B yuan ($1.16B) worth of new shares in Shanghai to help fund its purchase of Nevsun Resources (NYSEMKT:NSU).
  • Zijin says it aims to sell up to 3.4B Class A shares to investors in China, in a plan subject to shareholder and regulatory approval.
  • NSU agreed last September to a C$1.86B buyout bid by the Chinese gold miner, in a deal that surpassed an earlier hostile takeover offer by Lundin Mining.
  • Now read: Lundin Mining: Great Leverage On The Copper Price, But It's Time To Put The B Cash Pile To Work


Original article

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Zijin will hit $1 next year...
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