Xinjiang Tianshan Cement to raise $220.1 million through private placement

Byswb

Updated Mon, 04 May 2009 00:00:00 GMT

Xinjiang Tianshan Cement Co., Ltd., a producer and seller of cement and concrete, has agreed to raise CNY1,500 million ($220.1 million) through an issue of up to 200 million shares at an average price of about CNY13.26 ($1.94) per share to up to 10 investors.

Reportedly, China National Materials Company Limited, a holding company engaged in cement equipment and engineering services, is planning to subscribe new shares of Xinjiang Tianshan Cement worth CNY1,000 million ($146.73 million).