Henan Liming Heavy Industry Science & Technology Co.,Ltd.
Shanghai Branch | Beijing Branch
简体中文 | English | Русский | Français | العربية |
Español | Português | Tiếng Việt | 日本語

Products List

Home » News Center » Industry Tendency » China’s Real Gold Mining Rises Closing Prices 10.6% on Trading

China’s Real Gold Mining Rises Closing Prices 10.6% on Trading

Author:liming   Post Date:2009-2-24

Shares in China’s Real Gold Mining (0246.HK: Quote, Profile, Research) were set to open 10.4 percent higher in their trading debut on Monday after the company raised $132 million in a Hong Kong IPO that was priced at a sharp discount to its peers.

 

Inner Mongolia-based Real Gold was indicated at HK$6.90 in pre-market trading, compared with an initial public offering price of HK$6.25 a share, in the largest new Hong Kong listing since October.

The IPO price, which came at the top of an indicated range, values Real Gold at 10 times the average 2009 earnings forecasts by its listing sponsors Citigroup (C.N: Quote, Profile, Research) and Macquarie (MQG.AX: Quote, Profile, Research).

 

By comparison, China’s Zhaojin Mining (1818.HK: Quote, Profile, Research) and Zijin Mining (2899.HK: Quote, Profile, Research), the country’s top listed miner, both trade at roughly 20 times expected 2009 earnings.

Real Gold plans to use its listing proceeds to fund acquisitions of gold resources in Inner Mongolia, Xinjiang and other regions, as well as to fund capital expenditures including mine development and general corporate purposes.

[PRINT]    [CLOSE]

The Prev: [Industry Tendency] Pakistan:Model quarries to get Rs 12 billion annually
The Next: [Industry Tendency] Egypt Mining Companies, Natural Gas & Mining Project ...

Copyright © 2004-2015 by Henan Liming Heavy Industry Science & Technology Co.,Ltd.  All rights reserved
Tel: 0086-371-86162511   Fax: 0086-371-67992699   E-mail: info@limingco.com