Pursuits
Hong Kong Billionaire Li Bets on Uranium With NexGen Deal
- NexGen raising $60 million to develop project in Saskatchewan
- Uranium market set to tighten as mines near end of lifespans
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Hong Kong’s richest man Li Ka-shing is making a bet that uranium prices, down more than 60 percent from a 2011 record, are set for a comeback.
NexGen Energy Ltd. has agreed to sell $60 million in convertible bonds to CEF Holdings Ltd. and affiliated shareholders to raise money to help develop uranium projects in Saskatchewan, the company said Wednesday in a statement. CEF Holdings is 50 percent-owned by Li’s CK Hutchinson Holdings Ltd.