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Zhaojin Mining targets HK$1.21B capital raising

Zhaojin Mining Industry Co. Ltd. is looking to raise about HK$1.21 billion via a placing of its shares to increase its working capital.

The company will issue up to 174,869,000 shares at HK$6.93 per share to between six and 10 investors, according to a March 29 release.

UBS AG Hong Kong Branch, China Merchants Securities (HK) Co. Ltd. and CMB International Capital Ltd. will act as joint placing agents.

The placing is expected to be completed by April 12.