March 17, 2017 / 9:58 AM / 4 months ago

BRIEF-Rastar Group says rights issue plan of raising up to 1.12 bln yuan

1 Min Read

March 17(Reuters) - Rastar Group :

* Says it proposes to issue up to 373.3 million shares of common stock with par value of 1 yuan per share

* Shareholders are eligible to purchase up to 3 new shares for every 10 shares they hold

* Says it aims to raise up to 1.12 billion yuan through the rights issue

* Says it will use proceeds from rights issue to repay existing debt, support project development and complement operating funds

Source text in Chinese: goo.gl/Bv5S9K

Further company coverage: (Beijing Headline News)

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