Published by: World Tibet Network News, Thursday, October 3, 1996

SHANGHAI, Oct 3 (Reuter) - Tibet Jinzhu, the third Tibetan firm to list on the Shanghai stock exchange, will issue 15 million A shares to raise 76.2 million yuan ($9.2 million), a company statement said on Thursday.

Tibet Jinzhu, a trading company, will issue the shares at 5.36 yuan each from October 7 to October 15, and invest the money largely in agricultural, mining and processing projects to help the firm expand beyond its trading business, it said.

After the issue, the A shares will account for 28.96 percent of the company's share capital, with the remaining 36.8 million shares held by state-owned institutions in Tibet, it said.

In the first half of 1996, the company posted net profits of 7.44 million yuan on turnover of 84.4 million yuan, and it forecast net profits of 16.7 million yuan on turnover of 237 million yuan in all of 1996.

($1 = 8.3 yuan)