Aspire sells more shares to major shareholder

Coal developer Aspire Mining is hoping to raise A$33.5-million through a share placement to shareholder Tserenpuntsag Tserendamba, giving him a controlling stake in the ASX-listed company.

Aspire on Friday told shareholders that that the share subscription agreement, priced at 2.1c a share, would increase Tserendamba’s interest in Aspire from 27.5% to 51%.