nbd.com citing a company filing reported that Jinlin Liyuan Aluminum a maker of aluminum extrusion products, plans to issue a maximum of 72.8 million shares at CNY 17.50 per share in order to raise up to CNY 1.5 billion.
Proceeds raised will be used to diversify the product mix and implement its strategy of improving its high end products.
According to the company, the maximum number of shares that can be purchased by a single investor is 20 million shares.
The company plans to invest a total of CNY 1.89 billion for the processing of rail car materials, and will invest the total amount raised into this project, which will produce aluminum materials used in the production of automobiles, rail cars and large components.
The shortfall will be made up for by the company. The construction period is 24 months, with total construction cost of CNY 1.69 billion. Another CNY 175 million is required for working capital.
Once it is put into operation, the project is expected to generate net profit of CNY 382 million on revenue of CNY 1.61 billion with an internal rate of return of 22.7%
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