Aluminum Corporation of China announced that its controlling shareholder, Chalco Group, has obtained a loan commitment letter from the Beijing branch of Industrial and Commercial Bank of China, securing a credit line of up to 1.8 billion yuan with a term of no more than three years, specifically for increasing its holdings of the company's A-shares. Earlier, Chalco Group and its concert parties planned to increase their holdings of the company's A-shares and H-shares, with the purchase amount set at no less than 1 billion yuan and no more than 2 billion yuan, and the number of shares to be purchased not exceeding 2 percent of the company's total share capital, within 12 months from the date of the share purchase plan announcement.
Aluminum Corp of China LtdControlling shareholder secures up to 1.8 billion yuan loan to increase holdings, signaling confidence and providing price support.