August 1 -- Anhui Chaodong Cement (600318) plans to raise up to 584 million yuan through a private placement of a maximum of 40 million shares at not less than 19.51 yuan per share, reports yicai.com, citing a company filing.

All the funds raised will be used on engineering works on a 9MW waste heat power generation program, to construct a wharf and a concrete mixing station. The remainder will be used to repay bank loans.

Chaodong expects the investments to help expand the industrial chain of its cement production business.

Source:CapitalVue