Chalco to Raise CNY8 Billion

(China Aluminium Network) Aluminum Corp. of China Ltd. plans to raise up to CNY8 billion ($1.25 billion) in a private placement of shares to fund alumina projects and supplement working capital, it said last Thursday.

The company plans to place up to 1.25 billion yuan-denominated shares with up to 10 institutional investors at an offering price subject to regulatory approval. The placement will have a 12-month lock-up period, it added.

Proceeds will fund the Xing Xian alumina project and the Zhongzhou Ore-dressing Bayer Process expansion construction, as well as working capital.

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