China Nanshan Aluminium plans $367 mln shr placement

SHANGHAI May 9 (Reuters) - China's Shandong Nanshan Aluminium Co (600219.SS) plans to raise up to 2.5 billion yuan ($366.6 million) through a private placement of shares with investors to build an alloy production project, the company said on Saturday.

It will place between 100 million and 300 million shares at a price of no less than 8.87 yuan per share.

Nanshan's Shanghai-listed A shares ended at 9.74 yuan on Friday.

The funds will be used for a 220,000 tonne-per-year rail transport alloy production line, which will require a total investment of 3.22 billion yuan, the company said. ($1 = 6.819 Yuan) (Reporting by Edmund Klamann; Editing by Sugita Katyal)