Regulators gave the green light for metals giant Aluminum Corp. of China Ltd. (Chalco) to sell shares to a range of state-run investors as it looks to inject funds while the aluminum industry continues through a rocky patch.
The listed company, whose main shareholder is state-owned behemoth Aluminum Corp. of China (Chinalco), said that the China Securities Regulatory Commission (CSRC) had approved plans to issue shares with underlying asset value of 12.7 billion yuan ($1.84 billion), according to a filing (link in Chinese) with the Shanghai Stock Exchange...
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