Chalco plans to issue company debt up to 10 billion yuan

Aluminium Corporation of China (Chalco) is planning to issue company debt of no exceeding 10 billion yuan in order to adjust its debt structure.

Chalco declared that it would further adjust debt structure and supplement circulating fund for better operation of the company. The board initiated, on the extraordinary general meeting, to issue company debt of less than 10 billion yuan, with a term of within ten years. Both unitary and multi typed are acceptable. 

Company debt of this time should be issued within 24 months after approval of extraordinary general meeting, and later approval of The China Securities Regulatory Commission.

Mid term report revealed that, the company¡¯s sales income of H1 2008 was 39.607 billion yuan, down 3.044 billion yuan year-on-year, decline of 7.14%; net profit 2.401 billion yuan, down 4.569 billion yuan year-on-year, decline 66%.

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