New Issue: Teck Resources arranges C$1.74 billion private placement of equity

By Devika Patel

Knoxville, Tenn., July 6 - Teck Resources Ltd. said it plans a C$1.74 billion private placement of stock.

The company will sell 101.3 million class B subordinate shares at C$17.21 per share to China Investment Corp.

Proceeds will be used to reduce debt.

The issuer is a Vancouver, B.C.-based firm engaged in exploration, development and production of natural resources.

Issuer:	Teck Resources Ltd.
Issue:	Class B subordinate shares
Amount:	C$1,743,373,000
Shares:	101.3 million
Price:	C$17.21
Warrants:	No
Investor:	China Investment Corp.
Pricing date:	July 6
Stock symbol:	Toronto: TCK.B
Stock price:	$19.99 at close July 3
Market capitalization:	$9.2 billion

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