Nanshan Aluminium International Holdings Limited (Stock Code: 2610) has completed the placing of 31,000,000 existing shares on 26 January 2026 at HK$64.50 each, followed by the issuance of 31,000,000 new shares at the same price to the original vendor on 30 January 2026. After these transactions, the company’s total number of shares in issue stands at 620,435,200, while the vendor’s shareholding percentage remains unchanged from its position prior to the placing.
The net proceeds of approximately HK$1,986.76 million are allocated primarily to the company’s proposed electrolytic aluminium project (90%) and to general working capital (10%). According to the announcement, the electrolytic aluminium initiative is expected to proceed once engineering, procurement, and construction agreements are signed, with construction commencement targeted within 2026. The company projects using the proceeds for construction services and equipment needs until 31 December 2029, while retaining flexibility to deploy capital for working capital requirements or other necessary purposes.
Management notes that extending upstream operations with electrolytic aluminium is part of a broader strategy to enhance efficiency and mitigate price volatility in the alumina and aluminium supply chain. The company reiterates that its principal alumina production business will continue without disruption, with no plans for layoffs or major redeployment of existing assets. The announcement states that any future legally binding agreements related to this project will comply with Hong Kong listing requirements as applicable.
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