Alcoa Proposes Chalco Stake Sale BRIEFLY BUSINESS ASIA By Bloomberg
September 13, 2007
Alcoa, the world’s second-largest aluminum company, may sell all of its Hong Kong-traded stock in Aluminum Corp. of China, known as Chalco, raising as much as $2.08 billion, according to a term sheet e-mailed to investors.
The American company plans to sell 700 million shares in China’s biggest aluminum company at between 17.26 Hong Kong dollars, or $2.22, to 18.27 dollars each, the sale document said.
Originally published by Bloomberg News.
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