IFR reports Minmetals raised $499m from a share placement

China’s Minmetals Resources Ltd will raise $499 million from a share placement, IFR reported on Tuesday.

The new shares were sold at HK$5.10 ($0.66) each, below the indicative price range of HK$5.20-$5.60, translating to a discount of approximately 13.4 percent to the last traded price, IFR, a Thomson Reuters publication, citing sources said.