Midwest to issue A$19.3 mln in new shares

July 10, 2008

July 10th (Reuters) – Australian iron ore group Midwest Corp (MIS.AX: Quote, Profile, Research, Stock Buzz) said it plans to issue just over three million new shares if China’s Sinosteel succeeds in acquiring over 50 percent of the company.

The sale will raise A$19.3 million ($18.4 million), which Midwest said would be used to pay the fees of its corporate adviser Morgan Stanley.

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