TANGSHAN Jidong Cement Co, the Chinese unit of Germany's biggest producer, HeidelbergCement AG, raised 2.96 billion yuan (US$431 million) from selling new shares to fund growth.

The Tangshan-based firm sold 250 million new shares at 11.83 yuan each to six institutional investors on June 6, it said in a Shenzhen Stock Exchange notice yesterday. The stock closed at 11.60 yuan last Friday, down 4.1 percent.