Minmetals Resources Plans HK$ 3.9 Bln New Share Sale

(Beijing) -- Minmetals Resources Ltd. (HKEx: 1208), a unit of China's biggest metals trader China Minmetals Corp., plans to raise HK$ 3.9 billion via a placement of 762 million new shares, the company said April 19.

Proceeds will be used for loan repayment and funding overseas mining operations, Minmetals Resources said in an exchange filing, contrary to earlier media speculation of a possible share sale by the company to finance its CN$ 6.3 billion bid for Equinox Minerals Ltd.