The Shanghai-listed arm of the state run conglomerate isaiming for CNY 8.5bn ($1.4bn) from a private placement of 2.2 billion shares, itsaid in an exchange filing today.
Around a fifth of the available new shares will be picked up by its parent company with the remaining equity split between eight unidentified investors.
CSIC said in May it was likely to proceed with a privateequity offering to raise funds to purchase assets from its parent company.
Roughly
