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Lianhe Chemical to collect USD187.6 million for capacity expansion

Date:08-09-2016

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
4
Supplement to working capital
-
The rest
-
Source: Lianhe Chemical
 
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