01 November 2010 08:30 [Source: ICIS news]
SHANGHAI (ICIS)--Rongsheng Petrochemical, China’s leading purified terephthalic acid (PTA) and polyester producer, said on Monday it has raised yuan (CNY) 3.01bn ($?xml:namespace>
The company issued
The IPO proceeds would be used for working capital purposes, bank loan repayment and investment in future projects, the company said.
Rongsheng Petrochemical is hearquartered at
The company has stakes in two PTA plants with capacities of 1.5m tonnes/year and 1.06m tonnes/year, which are owned by Yisheng Dahua and Yisheng Petrochemical, respectively, it said.
($1 = CNY6.68)
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