Shangfeng Cement Co., Ltd. (000672.SZ), one of Chinese Top 20 cement companies, announced Tuesday to raise no more than 1.5 billion yuan via private placement for expansion of overseas production capacity.
The company will issue no more than 161.12 million shares at a price of 9.31 yuan per share. The money will be earmarked to invest in two overseas projects including a 3200 t/d clinker cement production line in Tajikistan and a 3200 t/d clinker cement production line in Uzbekistan.
According to the feasibility study report, the annual revenue and profit of the production line in Tajikistan is expected to reach 99.5 million US dollars and 65.42 million US dollars respectively. And the annual revenue and profit of the production line in Uzbekistan will be 101.19 million US dollars and 64.05 million US dollars respectively.
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