Article: Chunhui to constructs UHMW-PE fiber production base.(NEWSDESK: Issue)

Guangdong Kaiping Chunhui Co., Ltd. (Chunhui, SZ: 000976) announced on September 10th that it will issue up to 300 million domestic shares at a price of RMB5.58 per share. RMB962.55 million to be raised will be used to buy the 460 000 t/a polyester chip production line owned by Chunhui's majority shareholder and the 100% equity in Shandong Aidi Polymer Material Co., Ltd. The majority shareholder--Guangzhou Honghui Group and other strategic investors will buy 50 million shares and 77.5 million shares in cash respectively. Another RMB650 million to be raised will be used to invest in the construction of a 2 000 t/a ultra high molecular weight polyethylene UHMW-PE fiber ...

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