Yunnan Aluminum intends to raise capital of RMB4.5 billion for asset acquisition
2017-02-17 15:41:47 [Print]
Yunnan Aluminum Co., Ltd. announced on Feb 16 to issue no more than 729 million of shares to less than 10 investors of Yunnan Metallurgical Group at the price of RMB6.17 per share to raise capital of no more than RMB4.5 billion.
According to the announcement, the Metallurgical Group will purchase 25%-42.57% of the total issued shares, who will remain the top shareholder after the transaction.
As for the usage of the capital, Yunnan Aluminum Co., Ltd. intends to spend RMB2.1 billion in purchasing the equity of three hydroelectric companies from Guodian Yunnan, complete debt payment and pay other debt of other subsidiaries of Guodian Group except for Guodian Yunnan; the company intends to invest RMB650 million in the precise and ultra-thin aluminum foil project of Shuttle Inc., RMB950 million in the comprehensive utilization project of low and medium-grade bauxite from Yunnan Wenshan Electric Power Co., Ltd. and no more than RMB800 million in payment of bank debt.
According to the announcement, the Metallurgical Group will purchase 25%-42.57% of the total issued shares, who will remain the top shareholder after the transaction.
As for the usage of the capital, Yunnan Aluminum Co., Ltd. intends to spend RMB2.1 billion in purchasing the equity of three hydroelectric companies from Guodian Yunnan, complete debt payment and pay other debt of other subsidiaries of Guodian Group except for Guodian Yunnan; the company intends to invest RMB650 million in the precise and ultra-thin aluminum foil project of Shuttle Inc., RMB950 million in the comprehensive utilization project of low and medium-grade bauxite from Yunnan Wenshan Electric Power Co., Ltd. and no more than RMB800 million in payment of bank debt.
Aluminum Hydroxide 64.5%min EXW China
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China secondary aluminum alloy producers' sales to production ratio statistics by province by month
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