The Wall Street Journal
Chalco Plans To Raise Up To CNY8 Bln In Private Placement
Edited by : AL CIRCLE
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Aluminum Corp. of China Ltd. (2600.HK) plans to raise up to CNY8 billion ($1.25 billion) in a private placement of shares to fund alumina projects and supplement working capital, it said late Thursday.
The company, known as Chalco, plans to place up to 1.25 billion yuan-denominated shares with up to 10 institutional investors at an offering price subject to regulatory approval. The placement will have a 12-month lock-up period, it added.
Proceeds will fund the Xing Xian alumina project and the Zhongzhou Ore-dressing Bayer Process expansion construction, as well as working capital.
The company, known as Chalco, plans to place up to 1.25 billion yuan-denominated shares with up to 10 institutional investors at an offering price subject to regulatory approval. The placement will have a 12-month lock-up period, it added.
Proceeds will fund the Xing Xian alumina project and the Zhongzhou Ore-dressing Bayer Process expansion construction, as well as working capital.
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