Chalco Plans 9 Bln Yuan Fundraising

(Beijing) – Aluminum Corporation of China Ltd. or Chalco, the listed unit of Chinalco, announced a plan to raise up to 9 billion yuan in the A-share market to fund the company's development.

Chalco said in a statement on late January 30 that the company will issue one billion new shares via a private placement to up to 10 investors and the funds raised will be invested in the company's two aluminum projects and supplement the company's operating capital.