Sino Gold Mining Ltd, which is developing China's second-largest gold mine, said it plans to sell as much as HK$1.16 billion in shares in Hong Kong to fund growth.

The sale of 21 million shares will be priced at a maximum of HK$55 a share, Sydney-based Sino Gold said yesterday in a statement posted on the Australian Stock Exchange.

Sino Gold wants to sell shares in Hong Kong to increase the company's attractiveness to investors seeking to benefit from China's economic expansion.

Sino Gold will sell about 19 million shares, or 12 percent of the company's share capital, and three shareholders will sell 2 million of their stocks. An additional 3.2 million shares might be sold if demand is greater than expected, it said.

(For more biz stories, please visit Industry Updates)