Yunnan Aluminum Co. (000807.SZ) plans to launch a private placement to raise maximum 3.7 billion yuan for strengthening its main business, the listed firm said on late Wednesday.
Under the scheme, no more than 10 investors would buy maximum 880.9524 million shares of the company at minimum 4.2 yuan per share.
The money raised will be used to upgrade technology of an alumina facility with annual capacity of 600,000 tonnes, acquire a bauxite firm in Laos, build a 1 million-tonne alumina project in Laos, repay bank loans and add cash liquidity, the firm said.
In January 2015, Yunnan Aluminum announced acquisition of a 51-percent stake in a bauxite mine in Laos, which can enhance alumina supply for Yunnan Aluminum.
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