Xinjiang Tianshan Cement to raise CNY 2 billion for 6 projects

Byyyp

Updated Fri, 13 Jan 2012 00:00:00 GMT

China Knowledge reported that Xinjiang Tianshan Cement Co Ltd a cement and concrete manufacturer based in the Xinjiang Uygur Autonomous Region announced to raise up to CNY 2.8 billion through a public offering for six projects.

According to the prospectus, the Shenzhen-listed firm will issue up to 120 million new shares at a price of CNY 20.64 apiece Proceeds of CNY 2.48 billion in net amount from the offering will be used to build five cement production lines and a 1 million-ton cement grinding facility in Xinjiang.

Including the six new projects, Xinjiang Tianshan Cement has more than 16 advanced cement production lines. By the end of 2013 and the firm total output capacity is expected to reach 46 million tons of which 40 million tons are produced in Xinjiang.