Nanshan Aluminium Plans USD 367 million Share Placement

SHANDONG, May 11 -- Reuters reported that China's Shandong Nanshan Aluminium Co plans to raise up to RMB 2.5 billion through a private placement of shares with investors to build an alloy production project.

    According to the report, it will place between 100 million and 300 million shares at a price of no less than RMB 8.87/share.

    Nanshan Shanghai-listed A shares ended at RMB 9.74 on Friday.

    Nanshan Aluminium Co said the funds will be used for a 220,000 mt per year rail transport alloy production line, which will require a total investment of RMB 3.22 billion.

    (Source: Reuters)