AgroPages-Lianhe Chemical to collect USD187.6 million for capacity expansion-Agricultural news

By Think Real - On 4 July, 2016, Lianhe Chemical Technology Co., Ltd. (Lianhe Chemical) released a private placement pre-proposal, to raise a fund of USD187.6 million. Specifically, the fund (excluding issuance expenses) is all to be invested into 4 projects (See table below).

“In reality, the pre-proposal was approved by shareholders’ meeting in November 2015,” stated Lianhe Chemical, “However, in consideration of the market conditions, the economic environment and our needs in business operation, we plan to decrease the shares to be issued and the supplement to working capital.”

Table 1: Lianhe Chemical’s investment plan based on to-be-raised fund, 4 July, 2016

No.	Project	Fund to be raised, million USD	Investment, million USD	Company for construction
1	445 t/a pharmaceutical intermediate project	83.8	87.1	Lianhe Chemical (Taizhou) Co., Ltd.
2	1,000 t/a LH-1 technological reconstruction project	44.9	45.0	Lianhe Chemical (Yancheng) Co., Ltd.
3	9,000 t/a ammoxidation series technological reconstruction project	23.9	26.9	Lianhe Chemical (Yancheng) Co., Ltd.
4	Supplement to working capital	-	The rest	-

Source: Lianhe Chemical

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Lianhe Chemical to collect USD187.6 million for capacity expansion

Lianhe Chemical Technology Co., Ltd.
China
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