The deal, with an estimated value of about RMB493m (US$69.5m), is expected to help the company to consolidate the cement market in Northwest China, according to the company’s statement. But it did not disclose the offering price per share.
The placement is part of Qilianshan’s secondary offering plan to issue up to 150m new shares, equivalent to nearly 20% of its enlarged share capital, to no more than 10 institutional investors.
