On November 29th, China Guangzhou Nuclear Mining (1164.HK) fell more than 7% to HK $0.95, as low as HK $0.91, a new low in nearly two and a half months, with a total market capitalization of HK $6.3 billion. Zhongguang Nuclear Mining announced plans to place 1 billion shares, accounting for 13.16 per cent of the enlarged share capital, at a placing price of HK $0.80 per share, a discount of about 18.37 per cent to the closing price on Friday. 11 subscribers were involved, including China State-owned Enterprise mixed ownership Reform Fund Co., Ltd., which subscribed for 759 million shares, accounting for 9.99% of the share capital after delivery. The estimated net proceeds from the placement are estimated to be about HK $776 million and are intended to be used for general working capital and for the acquisition of uranium resources, the company said.