CapitalVue reported that Aluminum Corporation of China’s private placement was approved by the China Securities Regulatory Commission in April 2010.

Chalco previously planned to rise up to CNY 10 billion by issuing no more than CNY 1 billion A shares at a minimum price of CNY 9.28 per share. The company hoped the issuance would fund aluminum oxide production, mineral processing system expansion and supplement its working capital.

The company did not exercise the private placement plan in 2009 as originally scheduled due to a bleak market. The scheme’s validity period was extended for another year at the shareholder meeting in end of the August 2010.