China: Jinyuan Cement to raise CNY1.36bn in private share placement

China: Jinyuan Cement to raise CNY1.36bn in private share placement
12 July 2016


Jinyuan Cement plans to raise up to CNY1.36bn (US$204m) in private placement of shares to fund a company acquisition, projects and repay bank loans.

In June Jinyuan Cement bought a 51 per cent stake in a Jiangsu-based new materials technology firm from the Jinyuan Holding Group for CNY2.55m.

Earlier this year Reuters said the company had scrapped a major asset restructuring plan.

Jinyuan Cement reported revenues of CNY95.42m in 1Q16, up from CNY92.36m in 1Q15. The company’s net loss also improved from CNY-35.19m to CNY-19.86m during the same period and its net margin advance from -38.11 per cent to -20.82 per cent.

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Tagged Under: China Jinyuan Cement Acquisition