Monday, 20 Jun 2011

Yueyang Paper Co., Ltd. announced that it plans to issue up to 239 million A shares of common stock, at a price of down to RMB 8.39 per share in private placement. The Company expects to raise up to RMB 2 billion from the issue. The funds will be used to purchase a 73.41% stake in a Foshan-based development company, and to add capital to other projects.