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FCX Freeport McMoRan Inc

49.80
-2.61 (-4.98%)
01 May 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type
Freeport McMoRan Inc NYSE:FCX NYSE Common Stock
  Price Change % Change Share Price High Price Low Price Open Price Shares Traded Last Trade
  -2.61 -4.98% 49.80 51.20 49.90 50.53 17,218,832 01:00:00

China Molybdenum to Raise Up to CNY18 Billion Via Share Placement in China

23/05/2016 3:22am

Dow Jones News


Freeport McMoRan (NYSE:FCX)
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From May 2019 to May 2024

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   By Joanne Chiu 
 

The board of China Molybdenum Co. (3993.HK) has approved a plan to raise as much as 18 billion yuan ($2.8 billion) via a share placement in China to fund acquisitions.

The Chinese mining-and-processing company, which earlier this month agreed to buy an African copper operation from Freeport-McMoRan Inc. (FCX) for US$2.65 billion, said Friday it plans to issue 5.68 billion new shares to investors at CNY3.17 each.

It said CNY9.5 billion of the total proceeds will be used to fund the acquisition of niobium and phosphates businesses in Brazil, while the remaining is for financing the purchase of copper assets in Congo.

 

Write to Joanne Chiu at joanne.chiu@wsj.com

 

(END) Dow Jones Newswires

May 22, 2016 22:07 ET (02:07 GMT)

Copyright (c) 2016 Dow Jones & Company, Inc.

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