ZIJIN Mining Group, China's largest gold producer, raised 10 billion yuan (US$1.43 billion) by selling shares in Shanghai for the first time to fund acquisitions and projects.

Zijin sold 1.4 billion new shares at 7.13 yuan each, the top end of its indicated range, the Fujian Province-based company said. The shares were sold at 41 times 2007 diluted earnings, based on Chinese accounting standards.