Existing owner sells shares in Australian zinc miner
Zinifex shareholder cashes in after share price more than doubles in past 12 months on rallying metals prices.
Asian share placements have been a rare phenomenon since the equity market sell-off began almost a month ago, but last night investors who are still bullish on metals, in particularly zinc, were given an opportunity to increase their exposure when a shareholder of Australian zinc and lead prodcuer Zinifex sold A$294 million $220 million worth of stock.
The sale, which accounted for about 5.4% of the company and was arranged by Morgan Stanley, came after zinc, copper and aluminum prices...
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