Tuesday 2011-09-13  09:18 Publisher: CapitalVue
September 13 – Zhejiang Sanlux Rubber (002224.SZ) is planning to undertake a private placement to raise 400 million yuan for a special rubber project, reports yicai.com, citing a company filing.

The firm will issue some 45 million shares at 9.68 yuan per share to 10 designated investors, including a mutual fund and securities firm.

The firm will use the proceeds to build a reinforced rubber project with annual capacity of 9,000 tons, and a production line with annual capacity of 30 million power transmission v-belts.