Gansu Cement to raise RMB1.68bn via rights issue

Gansu Qilianshan Cement Group Co plans to raise up to RMB1.68bn via a rights issue.

The company will sell 142m shares to its shareholders at a ratio of three new shares for every 10 held at RMB6.26/share.

Proceeds from the issue will be used to repay bank loans and replenish working capital.