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Lier Chemical to raise USD128.4 million for production expansion projects

On 17 Aug., 2017, Lier Chemical Co., Ltd. (Lier Chemical) announced its decision to issue convertible bonds to raise funding of ≤USD128.4 million for the construction of its 10,000 t/a glufosinate-ammonium TC, 1,000 t/a epoxiconazole TC, and 1,000 t/a flumioxazin TC production projects, as well as the corresponding supporting facilities.

 

Table: Lier Chemical’s allocation plan for to-be-raised funds, Aug. 2017, million USD

No.

Project

Total

investment

Funds to

be raised

Invested self

-owned capital

1

10,000 t/a Glufosinate

-ammonium TC &

supporting facilities

82.9

59.5

10.6

2

1,000 t/a Epoxiconazole

 TC & supporting facilities

43.9

29.7

-

3

1,000 t/a Flumioxazin

TC & supporting facilities

52.7

39.2

5.5

Total

179.5

128.4

16.1

Source: Lier Chemical

 

“We will first invest with our self-owned capital based on business development and market demand, and later replace these investments with received funds. Necessary adjustments of the fund allocation may also be made in accordance with related laws and regulations,” noted the company, “The gap between the to-be-raised funds and total project investments will be filled with our own capital.”

 

-ENDS-

NOTES TO EDITORS

 

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