Caixin
Jan 03, 2019 06:44 PM
FINANCE

State-Owned Miner Sinks After Revealing Share Sale

Bisha Mining Share Co.’s main Eritrean mining pit, operated by Nevsun Resources Ltd., is seen in February 2016. Photo: VCG
Bisha Mining Share Co.’s main Eritrean mining pit, operated by Nevsun Resources Ltd., is seen in February 2016. Photo: VCG

* Zijin’s Shanghai-listed shares dropped the 10% daily limit on the first trading day after the announcement, but rebounded 1.33% on Thursday

* Some investors have questioned whether there is enough demand for new Zijin shares to fund the purchase of Nevsun

(Beijing) — Investors dumped shares of a state-owned metals miner after it announced plans to issue 8 billion yuan ($1.2 billion) in shares to acquire a Canadian mining company.

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