China's aluminium industry restarts private offerings

China Aluminum (601600) decided to restart the Non-public offering program. According to the announcement, the company intends to issue a shares of shares not more than 1 billion shares, raise funds not more than 9 billion yuan.　　After deducting the issuance fee, the fund will be used for the alumina project in Changxing County, China Aluminum Co., Ltd.　　The specific issue price will be approved by the Chinese Securities Regulatory Commission, the company's board of directors in accordance with the mandate of the general Meeting, in accordance with the "listed companies non-public issues of the implementation of the Rules" and other provisions, according to the bidding results and the main underwriter negotiated. In July 2009, the company announced a financing plan to raise funds not exceeding 10 billion yuan. The program was approved by the CSRC in April 2010, but the company did not implement refinancing within the 6-month period. The reason, analysts say, is a fall in share prices. The private offering price was 10.98 yuan, and the company's share price fell to 8.42 yuan by July 2010.