CapitalVue
Wanfang Aluminum Plans 3B Yuan Private Placement
Edited by : AL CIRCLE
1 min read
Jiaozuo Wanfang Aluminum Manufacturing (000612) plans to issue up to 282 million shares at 10.64 yuan per share in order to raise a maximum of three billion yuan for the construction of thermoelectric units and to boost operating capital, reports Oriental Morning Post, citing a company filing.
According to the company, it will invest 2.33 billion yuan to build two 300 MW extraction condensing turbines, and two 1,110 t/h pulverized coal-fired boilers.
It will also build stack gas desulfurization, denitrification equipment and other ancillary facilities.
The entire project has a construction period of two years, with an internal rate of return of 9.59 percent and a break-even period of 11.42 years.
Being a maker of electrolytic aluminum, power bills account for 50 percent of its total cost. The completion of the project could thus help to reduce related costs for Wanfang Aluminum.
The company will use 670 million yuan of the proceeds raised to supplement operating capital.
According to the company, it will invest 2.33 billion yuan to build two 300 MW extraction condensing turbines, and two 1,110 t/h pulverized coal-fired boilers.
It will also build stack gas desulfurization, denitrification equipment and other ancillary facilities.
The entire project has a construction period of two years, with an internal rate of return of 9.59 percent and a break-even period of 11.42 years.
Being a maker of electrolytic aluminum, power bills account for 50 percent of its total cost. The completion of the project could thus help to reduce related costs for Wanfang Aluminum.
The company will use 670 million yuan of the proceeds raised to supplement operating capital.
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