China Business News: Hualu Hengsheng Chemical to raise up to RMB 2.5 bln

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Hualu Hengsheng Chemical to raise up to RMB 2.5 bln

Oct. 1, 2009 (China Knowledge) - Shandong Hualu Hengsheng Chemical Co Ltd<600426> announced that it plans to issue up to 140 million shares for RMB 16.73 per share or RMB 2.5 billion in total to fewer than ten investors to upgrade an acetic acid plant, sources reported. The Shanghai-listed firm intends to use the proceeds from the issuance to improve the equipment of the acetic acid plant.

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