Zhongrun Resources Investment Co is planning to issue no more than 4.808 billion shares in order to raise funds up to 28.3 billion yuan (US$4.5billion) to purchase Iron Mining International Mongolia, Mongolia New La Le Gao Te Iron Mining LLC and Shiny Glow Limited.

Zhongrun plans to buy all three companies for around 12.22 billion yuan (US$1.9 billion).

Source: China Metals.