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Sichuan Expressway Plans 3.18 Billion Yuan A-Share Private Placement

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Sichuan Expressway (HKG:0107, SHA:601107) is looking to raise up to 3.18 billion yuan from the sale of 432.5 million A-shares to up to 35 investors through a private placement, according to a Friday filing with the Shanghai Stock Exchange.

The expressway operator will use the proceeds to fund the expansion project of the G5 Beijing-Kunming Expressway for up to 2.30 billion yuan and repay debt up to 880 million yuan.

Sichuan Expressway's shares fell 3% in Hong Kong and 2% in Shanghai during the midday break on Friday.

What else is happening in Asia?

Asia

Hearts and Minds Investments Posts Lower August Net Tangible Asset

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ASX:HM1
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Cape EMS Partners with Helios PV to Distribute Battery Systems in Europe

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KLSE:CEB
Asia

White Energy Company Confirms Acquisition of Essential Global Resources, Oceltip Coal 2 Completed; Shares Fall 5%

White Energy Company (ASX:WEC) confirmed the completion of the acquisition of Essential Global Resources and Oceltip Coal 2, which has acquired the Tin Hut Creek project and associated assets, according to a Friday Australian bourse filing.White Energy issued 83.3 million fully paid ordinary shares to the shareholders of Essential Global as consideration for the acquisition of the membership interests in Essential Global. In connection with the Oceltip Coal 2 acquisition, the purchase price was AU$4.5 million, as adjusted for debts and other liabilities at completion.It also completed a placement to institutional and professional investors to raise AU$15 million at an issue price of AU$0.06 per share.Nathan Tinkler was appointed as Managing Director and Executive Chair of White Energy, succeeding Brian Flannery as Chairman.Its shares fell 5% in recent trading on Friday.

ASX:WEC