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Jiangxi Copper ups H share price in HK$4.15B issuance


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Jiangxi Copper ups H share price in HK$4.15B issuance

Jiangxi CopperCo. Ltd. increased the price of H shares to be issued under itspreviously announcedprivate placement, which targeted HK$4.15 billion in proceeds.

The H shares are now priced at HK$8.26 each, compared toHK$7.87 per share previously, while the maximum number of new H shares to beissued has been reduced to 502,421,307 from 527,318,932, the company said July18.

It increased the price after certain conditions in the shareissuance related to the company's average trading price became applicable.

In February, the company announced plans to raise 3.50billion Chinese yuan and HK$4.15 billion via the issue of new A and H shares.

The cash raised will be used to fund the expansion of thereservoir at the Chengmenshan mine, the deep mining expansion of theYinshan mine,the construction of the No. 5 gangue reservoir at the mine and forworking capital.

As of July 19, US$1was equivalent to 6.69 Chinese yuan.