China Molybdenum Raises Money Through IPO

MenaFN reported China Molybdenum Co., Ltd. (HKG:3993) plans to raise about CNY 3.65 billion through issuing 542 million shares in an IPO on the Shanghai Stock Exchange.

As quoted in the market news:

It released prospectus for the IPO in the evening on September 9 and according to the details, it plans to raise about CNY 3.65 billion through issuing 542 million shares in the IPO. That is to say provided that it wants to achieve the goal of proceeds, the share price should be fixed at about CNY 6.73 apiece. Its sponsor Essence Securities believes that the reasonable evaluation is CNY 6.49 to CNY 8.48 per share, up 85.43 percent to 142.3 percent from its current H-share price. It closed at HKD 3.49 in Hong Kong on September 12, up 19 percent from September 7.

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