Real Gold Mining yesterday raised HK$1 billion $130 million through a top-up placement, bringing in money to develop a new mine. On the same day, US-listed Renesola began a roadshow for a follow-on that is expected to raise around $84 million.
The Real Gold deal consisted of 90 million shares, representing 12% of the company's enlarged share capital. The shares were offered at a price between HK$9.60 and HK$10.28 apiece, which translated into a discount of between 9% and 15% on the closing price of HK$11.30 recorded at yesterday's morning session just before the deal was launched.
The deal stayed open until the start of US trading, finally pricing...
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