Wintime Energy Wins Approval For 4.9B Yuan Private Placement


November 10 -- Wintime Energy (600157.SH), a maker of lubricants which is also involved in the coal and gold mining businesses, received approval from the China Securities Regulatory Commission for its plan to raise up to 4.9 billion yuan from a private placement, reports, citing a company filing.

The company plans to offer up to 316.13 million shares to a maximum of 10 designated investors at not less than 15.5 yuan per share.

Proceeds raised will be used to purchase a 70 percent stake in Shaanxi Yihua Mining Development, and 100 percent stakes in Shanxi Lingshi Yinyuan Anyuan Coal Industry, and Shanxi Lingshi Yinyuan Newsheng Coal Industry. Funds will also be injected into Huaying Shanxi Energy Investment.


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