China's major gold producer Zijin Mining Group Co., Ltd (601899.SH; 02899.HK) announced on Tuesday to lower the base price for its planned non-public share placement to 3.22 yuan/share from 3.38 yuan/share in an effort to ensure a success of the placement.
After the adjustment, the maximum number of A shares to be issued via the private placement will be about 2.795 billion shares. Under the company's private placement plan, it will raise no more than 9 billion yuan via the private placement, which will be used to acquire the Kolwezi copper mine project and the Kamoa copper mine project in the Democratic Republic of Congo, the Porgera gold mine project in Papua New Guinea, build the Zijinshan Auricupride flotation plant and replenish its working capital. On China's A-share market, the company closed up 1.68 percent at 3.64 yuan/share on Monday.
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