Jinchuan Group International Resources' (HKG:2362) substantial shareholder, Jinchuan (BVI) 1, procured a placing agent to place 630 million shares in the company to at least six investors at HK$0.628 apiece, a Wednesday filing with the Hong Kong bourse said.
The shares represent around 4.8% of the mining company's enlarged issued share capital.
Conditional on the placement reaching completion, Jinchuan (BVI) 1 will subscribe for 630 million shares of the company at HK$0.628 per share.
The firm will use net proceeds of HK$389 million from the placing and subscription for general working capital.
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