Mineweb: Ivanhoe Mines lowers price for US$1.8bn Oyu Tolgoi rights offer

Ivanhoe Mines has lowered the subscription price for its US$1.8 billion rights offering to raise capital to advance the construction and development of the Oyu Tolgoi Project in Mongolia. On June 19, 2012, Ivanhoe is issuing to shareholders one right for each common share held by each shareholder on that date. Trading will begin on the TSX on June 14, 2012, and end at the close of trading on July 19. 2012. Trading on the NYSE and NASDAQ will commence on June 14 and stop at the close of trading on July 18. Every 20 rights held will entitle the shareholder to buy seven years at a reduced price of US$7 per share, down from the initial price of US$8.34 when the financing deal was announced in April. To read the full article, click hereIvanhoe Mines lowers price for US$1.8bn Oyu Tolgoi rights offer

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