CSIC makes private placement

China Shipbuilding Industry Co plans to raise as much as 11.5 billion yuan ($1.8 billion) in a private placement of as many as 962 million shares for at least 11.96 yuan each.


Of the 11.5 billion yuan to be raised, 3.62 billion yuan will be spent to acquire stakes in seven companies affiliated to CSIC, 4.42 billion yuan will be invested to expand capacity, and 3.45 billion yuan will be used for working capital.
(Source:http://www.seatrade-asia.com)