Zijin Mining shareholder raises $187m

20 Jul 2011

An undisclosed institutional shareholder raised HK$1.46bn ($186.9m) from selling its entire stake in Hong Kong-listed Zijin Mining Group on Tuesday night, after the stock came off a nine month high.

The shareholder sold 338m shares for HK$4.31 each, just above the middle of a HK$4.22-HK$4.36 a share price range. This was a 5% discount on the stock’s closing price of HK$4.54 on Tuesday night, after the stock climbed 22% over the previous month.

But the stock closed down ...

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