XinRen Aluminum Holdings to issue IPO

The Straits Times reports that Chinese-based XinRen Aluminum Holdings , in response to the growing need for aluminum in China, plans to issue an IPO on Wednesday.

The story is quoted as saying:

XinRen is offering 186 million new shares via placement to large institutional investors, while another 12 million will be available for smaller retail investors. The shares are priced at 55 cents apiece for the mainboard listing. There is also an over-allotment option of up to 30 million shares to cater for excess demand.

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