By Denny Thomas (from reuters.com)
SYDNEY, April 3 (Reuters) - Russian billionaire Alisher Usmanov is looking to sell a 19.5 percent stake in Australian miner Mt Gibson Iron Ore Ltd (MGX.AX: Quote, Profile, Research) in a deal worth up to A$459 million ($421 million), two fund managers who bid for the shares told Reuters on Thursday.
Mt Gibson shares were placed on a trading halt earlier pending an announcement about a transaction in its shares.
Earlier this week, the Australian securities regulator had blocked Chinese steel maker Shougang from acquiring the stake from Gazmetall, a steel firm owned by Usmanov.
Merrill Lynch (MER.N: Quote, Profile, Research) is the sole book runner for the deal. The shares are being offered in range of A$2.60-A$2.93 each, the fund managers said. Mt Gibson shares last traded at A$2.93.
"We have bid for it as we are pretty positive on the iron ore outlook," said one fund manager, who wished not to be indentified. "It will be well bid and I think it will go pretty close to the top of the range," he added.
The final settlement price would be determined after the offer closes at 5:00 p.m. (0600 GMT), the sources said.
full article at http://www.reuters.com/article/rbssIndustryMaterialsUtilitiesNews/idUSSYD9200920080403
- Forums
- ASX - By Stock
- MGX
- trading halt
trading halt, page-7
-
- There are more pages in this discussion • 1 more message in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add MGX (ASX) to my watchlist
(20min delay)
|
|||||
Last
35.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $432.5M |
Open | High | Low | Value | Volume |
35.5¢ | 36.0¢ | 35.5¢ | $162.6K | 457.1K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
3 | 309498 | 35.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
36.0¢ | 142384 | 3 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
3 | 309498 | 0.355 |
11 | 112698 | 0.350 |
4 | 262901 | 0.345 |
8 | 99900 | 0.340 |
2 | 58958 | 0.335 |
Price($) | Vol. | No. |
---|---|---|
0.360 | 142384 | 3 |
0.365 | 92600 | 3 |
0.370 | 87300 | 4 |
0.375 | 94000 | 5 |
0.380 | 75100 | 3 |
Last trade - 16.10pm 31/07/2024 (20 minute delay) ? |
Featured News
MGX (ASX) Chart |
The Watchlist
CCO
THE CALMER CO INTERNATIONAL LIMITED
Anthony Noble, CEO
Anthony Noble
CEO
SPONSORED BY The Market Online