Nine Dragons Paper (HKG:2689) is seeking to raise as much as $2.88 billion
through top-up placing, a market source said.
The company is selling 236-250 million shares
at an indicative price range from $10.85 to $11.50,
representing a discount of 5.6-10.9% to yesterday's closing price of $12.18 each,
according to the sources.
The placement is handled by Citigroup.
Trading in the shares of Nine Dragons Paper has been suspended with effect from 9:30 a.m. today.