Looks like a convertible note issue by reports.
"Suggestions that after market tonight China's Hunan Valin Iron & Steel Group backed by China Investment Corp will announce a capital injection into Fortescue Metals through a convertible note. The AFR says Hunan Valin Iron & Steel Group has submitted a Foreign Investment Review Board application for an expected investment of as much as $3 billion in Fortescue. Some analysts think the news will not be well received as it highlights the fact that FMG need cash (most of their cash pile being committed to debt service reserves and other payments) and also because the stock has doubled in a month partly on speculation of an all out bid. This is not a bid."
http://au.ibtimes.com/articles/20090220/midday-market-roundup-20-02-09.htm
Looks like a convertible note issue by reports."Suggestions that...
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Last
$18.29 |
Change
0.015(0.08%) |
Mkt cap ! $56.49B | |||
| Open | High | Low | Value | Volume |
| $18.26 | $18.41 | $18.21 | $38.35M | 2.095M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 12 | 6970 | $18.28 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $18.29 | 1964 | 5 |
View Market Depth
| Last trade - 10.58am 02/09/2024 (20 minute delay) ? |
| FMG (ASX) Chart |