China Nanshan Aluminium plans $367 mln shr placement

SHANGHAI, May 9 - China's Shandong Nanshan Aluminium Co <600219.SS> plans to raise up to 2.5 billion yuan through a private placement of shares with investors to build an alloy production project, the company said on Saturday. It will place between 100 million and 300 million shares at a price of no less than 8.87 yuan per share. Nanshan's Shanghai-listed A shares ended at 9.74 yuan on Friday. The funds will be used for a 220,000 tonne-per-year rail transport alloy production line, which will require a total investment of 3.22 billion yuan, the company said.