PRWeb: Asia Pacific Investment Partners Exceeds Target Fundraise by 50%

Asia Pacific Investment Partners (“APIP”), a Mongolia focused operating group primarily engaged in property development and cement production, has today announced the close of its highly successful private placement offering at a pre-money valuation of US$140m. The Group received demand for 2,136,622 common shares at a price of HK$55 per share for aggregate gross proceeds of HK$117.5m (US$15.1m). This exceeds the target fundraise of US$10m by over 50%. The additional proceeds will enable APIP to stockpile a greater quantity of clinker – material used in the production of cement – at a time when prices are below their summer peak. It will also allow APIP to increase the pace of its 2012/13 capital expenditure timetable to build a parallel cement crushing line and a clinker kiln at its limestone deposit in the South of Mongolia. To read the full article, click hereAsia Pacific Investment Partners Exceeds Target Fundraise by 50%

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