According to a Hong Kong stock exchange filing, Indonesian gold mining firm Merdeka Gold Resources has proposed issuing 89.7 million Hong Kong Depositary Receipts (HDRs) at a maximum price of HK$26.60 each in its Hong Kong listing.
Calculations indicate the company is set to raise as much as HK$2.39 billion (US$305 million). Cornerstone investors include Ping An Asset Management (US$30 million), IAMGOLD (US$20 million), Glencore (US$20 million), Mercuria (US$20 million), and Trafigura (US$20 million). Trading is expected to commence on June 26. UBS and CITIC Securities are the joint sponsors for the offering.
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