According to the China Securities News Network: 21 South Asian Mining announced details of the listing, the company plans to issue 113 million shares, 90% of the international placing and public offer of 10%; recruit the Hong Kong dollar 1.18 shares, raising 133 million Hong Kong dollars, raising a net of about 2,000,000 in Hong Kong Yuan of funds will be used for general working capital and expand production capacity. Mining in South Asia from 21 to at 12 o'clock on Dec. 8 to accept public subscription, Dec. 16 listed on the Main Board, the British man-sponsors of high finance.
It is reported that the unit has already started to promote, originally planned to raise 2 billion Hong Kong dollars, but market conditions should be cut to 1 billion or so. In the past 3 years, the company has no revenue, but a loss of 3 years in a row, not in line with recent business to a profit of not less than 3 years, a total of 30,000,000 listed on the Hong Kong dollar, but because of the nature of which is a type of mining, it was HKEx Exemption of listed profit for approval.
Mining in South Asia executive director Zhang Weizong listed in the press conference, said the company invested about 4.5 billion Hong Kong dollars in the first production line is expected next year is expected to be put into operation in April, a year production capacity will reach 15,000 tons ingot; In addition, the company has 5 Independent third-party contract entered into ingot, with an estimated annual sales of at least 17,000 tons ingot. He also pointed out that the company in Malaysia Charlie dolomite Shan Chau held by the mining rights for 20 years, while the magnesium ore, the total estimated reserves of more than 20,000,000 tons. In addition, the South Asian Association for 10 mining profits tax exemption, and enjoy import duty on raw materials, all of ingot export tax exemption. Zhang Weizong is estimated that, although the global financial market volatility, so that the magnesium prices, but in anticipation of future industrial demand magnesium, magnesium is expected in the future will be the price per ton in the 3000-5000 US dollars level off.
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