Australian stock - RIO TINTO 力托
The failure of China Aluminium to acquire RIO TINTO makes RIO TINTO quite famous. Actually it is one of the mining giants in the world for a long time. At the date of the failure announcement, RIO TINTO raised dramatically.
RIO TINTO needs to work (or join) with another giant BHP for financial support. Today, RIO TINTO announces for its share placement. For every 40 existing shares of RIO TINTO, one can pay for 21 new shares for AUD28.29 each. If BHP and RIO TINTO merges, China will have much less alternatives to buy materials every year.
RIO TINTO drops to AUD57.90 fm AUD73.23 yesterday, or 21%.
The placement of new shares is 40 old shares for 21 new shares, and RIO TINTO share prices drops 21% for the announcement. Doesn't it look familiar..... as our HSBC's share placement??
[ 本帖最後由 b4321 於 2009-6-17 14:05 編輯 ]
