皇冠体育app

The Aluminum Corp of 皇冠体育app Ltd, or 皇冠体育applco, plans to issue new shares through a private placement as a means of replenishing its cash reserves.

In a statement to the Shanghai Stock Exchange, the country’s biggest aluminum maker said it plans to raise 8 billion yuan ($1.3 billion) by issuing 1.45 billion shares. Of the money it gets from the transaction, 2 billion yuan will be used to replenish its cash reserves. The rest will go into production.

The decision was made after 皇冠体育applco recorded a operation-related cash flow of negative 1.8 billion yuan, indicating its ability to make profits is declining.

皇冠体育applco lost 3.25 billion yuan in the first half of the year as 皇冠体育app’s rate of economic growth decreased to a three-year low. From the end of 2009 to the end of June, it lost 6.86 billion yuan in total.

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