-- Lingbao Gold (HKG:3330) raised about HK$770.6 million from a top-up subscription of new shares following a placing of existing shares, according to a Wednesday Hong Kong bourse filing.
Shares of the gold miner were down over 6% in Thursday morning trade.
The company issued 29.8 million new shares at HK$26.16 each to the vendor, Jesi Industrial Development (Hong Kong), after the same number of shares were placed with investors at the same price.
Proceeds will be used mainly for the construction of the St Barbara gold mine project, as well as overseas acquisitions, mineral exploration in China, and general working capital.
The placing shares were sold to not fewer than six investors, the company said.