Chalco to Sell Stakes in Four Units in Debt-Relief Effort
China’s largest state-owned aluminum producer said it will sell shares in four of its units to a group of investors to raise $1.9 billion to try to reduce its debt ratio.
Hong Kong and Shanghai-listed Aluminum Corp. of China (Chalco) said that under the plan it will raise 12.6 billion yuan ($1.9 billion) from eight state-backed investors by selling equity in four units, according to the company’s statement on Monday.
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