Sichuan Guangan AAA Public Co., Ltd. announced that it plans to issue up to 110 million A shares of common stock in private placement, at RMB 7 per share. The Company aims to raise RMB 770 million from the issue. At the same time, the Company plans to use RMB 729 million, RMB 714.17 million of which will be from the private placement, to acquire a 90% stake in a Xinjiang-based energy development company.
 

Source:Reuters