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Chalco gets nod for A-share sale

(China Daily)
Updated: 2007-04-18 13:27

Aluminum Corp of China Ltd (Chalco), the nation's biggest maker of the metal, has received approval to sell shares in Shanghai, the China Securities Regulatory Commission said on its website yesterday.

Chalco is buying out the shareholders of Shandong Aluminum Industry Co and Lanzhou Aluminum Co by issuing 1.24 billion shares.

Beijing-based Chalco, now listed in Hong Kong and New York, values the new shares at 6.6 yuan each, or 8.16 billion yuan.