China Molybdenum raised just a sixth of its initial fundraising plan through a share offering in Shanghai on Thursday, reflecting concerns over steel-related firms amid a slowing economy and sending its Hong Kong-listed shares down sharply.
The producer of tungsten and molybdenum, which are used in steel products, raised 600 million yuan (HK$734 million) after selling 200 million shares at 3 yuan apiece, it said in a filing to the Shanghai stock exchange.
via Business feed http://www.scmp.com/business/china-business/article/1042640/brittle-interest-china-molybdenums-share-offering
No comments:
Post a Comment