Tag: metals mining

China's second largest nickel miner proves more popular with retail investors than the country's leading down jacket designer. Xinjiang Xinxin Mining seeks to raise up to $500 million at a time when other metals producers have watched their share prices double in a matter of weeks. The bank increases its involvement in the privately arranged deal for an Indonesian coal producer. Metals producer Western Mining is set to price its $815 million offering at the top after investors order 242 times the shares available. Positive sentiment for the specialty metals sector overshadows lack of discount versus its main Hong Kong-listed comparable. Meanwhile, Mainland institutions prompt a slight narrowing of Citic Bank's price range, shrinking the maximum IPO size. Eight cornerstone investors commit to a piece of the deal as the price range is set at a sizeable discount to comparable Hunan Nonferrous Metals. The company plans to set aside around $150 million for cornerstone investors from its $500 million share sale.