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Rio Tinto starte subscription Chinalco in the assessment phase
- China Aluminium Network
- Post Time: 2009/6/19
- Click Amount: 502
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Wednesday（local time），Rio Tinto turns on the lettings financing subscription which worth about 15.2 billion U.S. dollars. According to the announcement issued by the company, the Group's shareholders will decide whether to participate in the subscription or not in theperiod of June 16 to July 1.
Facing the subscription of all kinds of speculation about this participation, the Chinalco’s deputy general manager said yesterday, "It is in the assessment phase."
According to the plan, Rio Tinto shares will be allotted 40 per share ratio of 21 placements, the right share price of Rio Tinto Company is 14 pounds per share, fund-raising about 11.8 billion U.S. dollars; while the right share price of Rio Tinto Limited is 28.29 Australian dollars per share, fund-raising about 3.4 billion U.S. dollars. The insiders believe that if Chinalco give up the subscription, it will be faced with the risk of stake dilution. Source: Peking Daily
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