fushan-placement-set-to-raise-339-million

Fushan placement set to raise $339 million

Two-thirds of the upsized deal are new shares, allowing the coking coal producer to raise new capital for acquisitions, while the rest of the shares are sold by the vice chairman.

Fushan International Energy Group, a Chinese investment holding company that is primarily focused on the production of coking coal, was in the market last night, aiming to raise capital for future acquisitions and capital expenditure through a top-up placement. The company's vice chairman also took the opportunity to offload some additional shares of his own.

Despite it being a busy night in terms of capital raising with three deals out of India attempting to raise at least $700 million and the launch of a $300 million global depositary receipt offering by Taiwan's Shin Kong Financial Holding that is due to price tomorrow, Hong Kong-listed Fushan was able to attract strong enough demand to upsize its...

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