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Alcoa said to sell 700 mln Chalco shares at discount |
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Written by Administrator
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Monday, 17 September 2007 |
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BEIJING, Sept. 13 (InfoChina) – Alcoa reportedly plans to sell 700 million shares of Hong Kong-listed Aluminum Corp of China (Chalco, ACH: NYSE, 2600: HK, 601600: SH) at 17.26 to 18.27 dollars per share.
The deal would value as much as 1.64 billion U. S. dollars and was arranged by Goldman Sachs while Aloca reserves the option to sell as many as 884.21 million shares of Chalco. The share price of Chalco ended at 20.4 Hong Kong dollars on Wednesday reflecting a 10.4 to 15.4 percent discount of the sale. It’s reported that Alcoa purchased these shares at 1.37 Hong Kong dollars per share in 2001 when Chalco debuted on Hong Kong Stock Exchange. (Edited by Liu Ya’nan) |
China Stock News