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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 $132 million in a Hong Kong IPO that was priced at a sharp discount to its peers.
Inner Mongolia-based Real Gold was indicated at HK$
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).
Real Gold plans to use its listing proceeds to fund acquisitions of gold resources in