China Aluminium Network
Chalco to Raise CNY8 Billion
Edited by : AL CIRCLE
1 min read
Aluminum Corp. of China Ltd. 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 last Thursday.
The company 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 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.
Previous article
Saudi Maaden awards USD1.5b refinery deal to Hyundai
Next articleChallenging year ahead for bauxite and alumina
Grow with
AL Circle
