Jidong Cement to Issue RMB250M of Shares

Jidong Cement to Issue RMB250M of Shares
Published: 23 May 2007


Jidong Cement’s board of directors approved the company’s proposal to issue shares in private placement, announced the company on May 22nd. The company will issue no more than RMB250M of shares in a bid to raise RMB3bn. The funds raised will be used for construction of ten projects, including a 4,500tpd new  dry-process clinker and cement production line and power generation projects in Matishan, Hebei Province. Once complete, the company’s cement production capacity will increase by 16.7985Mt, pushing its total to 37Mt.