Shandong Gold Mining eyes raising $3.9b through share placement to repay debt

Shandong Gold Mining (1787) plans to raise about HK$3.89 billion through a share placement, according to a stock exchange filing.

The Chinese miner will issue 136 million new shares at HK$28.58 apiece, representing a discount of about 9 percent to Monday’s closing price of HK$31.40. 

The new shares will account for roughly 2.96 percent of the company’s enlarged share capital.

Proceeds from the placement will be used to repay company debt, Shandong Gold said.

STAFF REPORTER