国产热热热精品,亚洲视频久久】日韩,三级婷婷在线久久,99人妻精品视频,精品九热人人肉肉在线,AV东京热一区二区,91po在线视频观看,久久激情宗合,青青草黄色手机视频

Anhui Conch Cement Co plans to sell shares valued at 11 billion yuan (US$1.4 billion) in Shanghai to upgrade power equipment and boost output.

The company, China's biggest maker of the construction material, will offer 200 million new shares, equal to an 11.3 percent stake after the sale, Conch said in a Shanghai stock exchange statement today, without giving a price or timing. The stock closed at 55 yuan yesterday.

Conch will spend part of the funds on new boilers and generators, advancing a government goal of curbing pollution in China, the world's biggest maker and user of cement. The offer adds to about US$13.5 billion of equity sales announced in the past two months as China pushes state-owned companies to raise funds to help damp demand in a market that has almost doubled in 2007.

Related readings:  Cement rings on high demand  Watchdog greenlights cement acquisition  Anhui Conch Cement profits quadruple Find more in Markets Watch

The new power equipment will cut energy consumption and save costs, Anhui Conch said. The company, based in China's eastern Wuhu City, will also use some of the proceeds to boost annual cement production capacity to about 87 million tons from 65 million tons. China produced 19 percent more cement last year from a year earlier, according to the government.

The Shanghai-traded stock of Anhui Conch fell as much as 1.9 yuan, or 3.5 percent, to 53.1 yuan in Shanghai and was at 54.15 yuan at 10:45am. Before today, the stock had surged 349 percent in the past 12 months.

The Hong Kong-traded shares have more than quadrupled in the past year, beating the 38 percent gain of the benchmark Hang Seng Index. The stock closed at HK$51.60 (US$6.60) yesterday and was suspended from trading this morning.

(For more biz stories, please visit Industry Updates)