Real Gold raises $156 million from placement

Real Gold Mining, a Chinese gold miner that in February 2009 became the first company of size to list in Hong Kong following the financial crisis, has raised HK$1.22 billion $156 million from an upsized placement. The money will be used for acquisitions, capital expenditure and gold mining exploration activities.

While no specifics were announced, sources said yesterday that the company has identified an acquisition target and the timing of the share sale was most likely related to that. However, it also comes at a time when investor confidence appears to be returning to the equity markets in the region and is sparking a pickup in capital markets activity. Also in the market yesterday...