China Molybdenum plans to issue 542 mln A shares in Shanghai

China Molybdenum Co (HKG:3993) plans to issue 542 million A shares on the Shanghai Stock Exchange.

The press release is quoted as saying:

China Molybdenum said it will use proceeds from the listing to fund projects that will cost about RMB 3.79 billion in total, including the purchase of a 50% stake in Xuzhou Huanyu Molybdenum Co, the takeover of exploration rights in a molybdenum mine in East Gobi in Xinjiang Uygur Autonomous Region.

Click here to access the entire press release