Nanshan Aluminium to raise additional $767m for Indonesian alumina project

Shanghai-listed Nanshang Aluminium plans to raise an additional 5 billion yuan ($767 million) to fund its 1 million tpy alumina project on the Indonesian island of Bintan, the company announced on September 8.

The 5 billion-yuan sum will come via a share offering of no more than three shares for every ten shares currently held. As of June 30, the company held a total of 9,251,102,895 shares. The share issuing price is yet to be decided, Total investment for the project now stands close to 5.7 billion yuan. The project is being undertaken by PT Bintan Alumina Indonesia (BAI) – a subsidiary in which Nanshan Aluminium holds an indirect share. The project will be completed within the next three years and is estimated...

Published

Susan Zou

September 12, 2017

14:52 GMT

Shanghai