Jiangxi Wannianqing Cement (000789) and Sichuan Jiuzhou Electric (000801) yesterday announced their private placement plans were approved by the China Securities Regulatory Commission (CSRC).

Jiangxi Wannianqing Cement plans to privately issue up to 65 million shares at not less than 10.56 yuan per share.

Funds raised will be used to acquire a 40 percent stake in Jiangxi Jinxin Cement, invest in a low-temperature cogeneration project, and to replenish working capital.

Sichuan Jiuzhou Electric intends to issue up to 97.07 million shares at not less than 6.2 yuan per share, in order to raise 601.82 million yuan.

Funds raised will be used on a project to produce 3.5 million units of triple play terminals, the research and industrialization of optical devices, construct a research and development center, and to replenish working capital.

Source:capitalvue.com