Wanfang Aluminium to Issue 3 Billion Yuan Shares

(China Aluminium Network) Jiaozuo Wanfang Aluminium 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. The completion of the project could thus help to reduce related costs for Wanfang Aluminum.

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