Nov. 30, 2020 – On November 23, Puyang Refractories Group (PRCO) announced that the company’s application for public offering of convertible bonds was approved by China Securities Regulatory Commission (CSRC).

Earlier, PRCO announced that it plans to issue RMB 626 million (USD 88.52 million) of convertible corporate bonds. The funds, after deducting issuance fee, will be used in the projects on 40,000 tpy prefabs, 60,000 tpy monolithic refractories, 10,000 tpy taphole clay smart manufacturing, 10000 pty high-performance environment-friendly slack back plate smart manufacturing project and Shanghai R&D center construction.