Chihong Ze & Ge to Raise Funds for Lead-Zinc Concentrate and Battery Recycling Projects

SHANGHAI, Jul. 11 (SMM) – Yunnan Chihong Zn & Ge Co. plans to collect funds for the lead and zinc concentrate technical upgrade and lead-acid battery recycling projects, based on its announcement released on July 8.

The company proposed to raise funds of 4.7 billion yuan ($ 0.7 billion) through issuance of non-public offering of A shares not exceeding 556.5 million with each share worth 8.45 yuan.

Of the funds, 482.82 million yuan will be used in the lead and zinc concentrate technical upgrade project, 321.07 million yuan in 160kt/a scrap lead-acid battery recycling project, 203.4 million yuan in Inner Mongolia’s Chaganbulagen silver mine exploration project and the rest funds in repayment of bank loans. 

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