Anhui Chaodong Cement Co Ltd is planning to issue 40 million A shares of common stock at an inductive price of CNY19.51 ($3.04) per share to raise approximately CNY584m (US$91.15m) in private placement.

Anhui Chaodong Cement plans to use the funds for engineering works on a 9MW waste heat power generation program and invest its cement production capabilities. The remainder will be used to repay bank loans.
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