Hind Copper FPO may be priced at Rs 120-140/sh: Sources

State-owned Hindustan Copper will be launching its follow-on public offer (FPO) soon, which may be priced at Rs 120-140 a share, reports CNBC-TV18 quoting sources of NW18.

Earlier, CNBC-TV18 had learnt that the FPO could be out by March 2011. The company is planning to raise over Rs 2,000 crore via the issue. Hindustan Copper is eyeing mines in African Nations and Chile. It will invest Rs 4,000 crore on expansion in 5 years. At 12 hours IST, the share was trading at Rs 308, down Rs 28.15, or 8.37%. Traded volumes stood at 649,718 shares, an increase of 91.84% compared to its 5-day average of 338,680 shares.