Zhongtai Chemical issued an announcement yesterday evening and the China Securities Regulatory Commission's issuance and review committee audited the application for non-public issuance of A shares by Zhongtai Chemical on January 27, 2010 (Wednesday). The company issued non-public A shares. The application for the stock was passed.
The company's shares resume trading on January 28, 2010.
According to the company's previously announced non-public issuance plan, the company will raise no more than 3.8 billion yuan for the investment in Huatai's second phase project. The actual controller of the company, Xinjiang SASAC, will also participate in the issuance.
According to public information, the total investment of Huatai Phase II Project is about 3.99 billion yuan, and the project site is located in Zhongtai Chemical Industry Park, Midong New District, Urumqi, Xinjiang. The project construction content mainly includes 360,000 tons/year of PVC resin device and 300,000 tons/year. Annual ion-exchange membrane caustic soda equipment, supporting 2×135MW cogeneration unit and 1 million tons/year calcium carbide slag cement clinker installation, supporting public works and service engineering. The project is expected to be completed and put into operation in 2010. After the production is completed, the company will add 360,000 tons of polyvinyl chloride resin, 300,000 tons of ion-exchange membrane caustic soda production capacity and 175 million kWh of electricity generation capacity each year. After the project is put into production, it is expected to achieve an annual operating income of approximately 2.99 billion yuan, and an average annual after-tax net profit of approximately 500 million yuan.
The company's shares resume trading on January 28, 2010.
According to the company's previously announced non-public issuance plan, the company will raise no more than 3.8 billion yuan for the investment in Huatai's second phase project. The actual controller of the company, Xinjiang SASAC, will also participate in the issuance.
According to public information, the total investment of Huatai Phase II Project is about 3.99 billion yuan, and the project site is located in Zhongtai Chemical Industry Park, Midong New District, Urumqi, Xinjiang. The project construction content mainly includes 360,000 tons/year of PVC resin device and 300,000 tons/year. Annual ion-exchange membrane caustic soda equipment, supporting 2×135MW cogeneration unit and 1 million tons/year calcium carbide slag cement clinker installation, supporting public works and service engineering. The project is expected to be completed and put into operation in 2010. After the production is completed, the company will add 360,000 tons of polyvinyl chloride resin, 300,000 tons of ion-exchange membrane caustic soda production capacity and 175 million kWh of electricity generation capacity each year. After the project is put into production, it is expected to achieve an annual operating income of approximately 2.99 billion yuan, and an average annual after-tax net profit of approximately 500 million yuan.
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