RTRS : New Gold sets C$100 mln discount equity sale
* To sell 26.7 mln shares in bought deal
* To sell shares at C$3.75/shr, a discount of more than 6 pct
* To raise gross proceeds of C$100.1 mln
Aug 21 (Reuters) - New Gold Inc (NGD.TO) agreed to sell shares, priced at a discount, to a group of underwriters to raise capital for general corporate purposes.
The company plans to sell 26.7 million common shares at C$3.75 apiece -- a discount of more than 6 percent to the stock's Thursday closing price of C$4.
The deal, which is being structured as a "bought deal", will raise gross proceeds of C$100.1 million ($92.09 million).
The gold producer is the latest to join the ranks of other Canadian mining companies that have shored up their balance sheets by selling stock at discounted prices.
The syndicate of underwriters led by BMO Capital Markets and GMP Securities L.P. will also have an option to buy up to an additional 15 percent of the offering to cover over-allotments.
($1=1.087 Canadian Dollar) (Reporting by Chakradhar Adusumilli in Bangalore; Editing by Deepak Kannan)
