January 2, 2019 / 1:10 AM / a year ago

Zijin Mining plans to sell $1.2 bln A-shares to fund Nevsun purchase

HONG KONG, Jan 2 (Reuters) - Chinese gold miner Zijin Mining Group Co Ltd said it plans to sell up to 8 billion yuan ($1.16 billion) worth of new shares in Shanghai to help fund its purchase of Canada’s Nevsun Resources Ltd .

Zijin aims to sell up to 3.4 billion A shares to investors in China, in a plan which is subject to shareholder and regulatory approval, the firm said in a filing to the Hong Kong bourse late on Tuesday.

Nevsun agreed last September to a C$1.86 billion ($1.37 billion) buyout bid by Zijin, in a deal that trumped an earlier hostile takeover offer by Lundin Mining Corp. ($1 = 6.8755 Chinese yuan renminbi) ($1 = 1.3625 Canadian dollars) (Reporting by Donny Kwok; editing by Richard Pullin)

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