Yunnan Chihong may raise 1.8b yuan

SHANGHAI: Yunnan Chihong Zinc & Germanium Co, the country's fifth-largest zinc smelter, said yesterday it plans to raise up to 1.8 billion yuan in a rights offer to expand its lead and zinc production capacity.

Yunnan Chihong will offer three shares for every 10 at a price of 7.69 yuan apiece on Nov 30, the company said.

A-shares of the Yunnan-based firm rose as much as 9.8 percent yesterday before closing up 4.52 percent to 32.82 yuan.