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Xinjiang Tianshan Cement to raise RMB 2.8 bln for 6 projects

Jan. 12, 2012 (China Knowledge) - Xinjiang Tianshan Cement Co Ltd<000877>, a cement and concrete manufacturer based in the Xinjiang Uygur Autonomous Region, today announced plans to raise up to RMB 2.8 billion via a public offering for six projects.

According to the prospectus, the Shenzhen-listed firm will issue up to 120 million new shares at a price of RMB 20.64 apiece

Proceeds of RMB 2.48 billion in net amount from the offering will be used to build five cement production lines and a 1 million-ton cement grinding facility in Xinjiang.

Including the six new projects, Xinjiang Tianshan Cement has more than 16 advanced cement production lines. By the end of 2013, the firm's total output capacity is expected to reach 46 million tons, of which 40 million tons are produced in Xinjiang.

The cement supplier also targets 50 million-ton output capacity for 2015, including 45 million tons in Xinjiang, sources reported.

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