It is reported that China XinRen Aluminum Holdings recently filed a draft prospectus with the Monetary Authority of Singapore for an initial public offering on the Singapore Exchange.

The company did not go into detail about the number of shares it intends to offer or the amount it wants to raise but people familiar with the situation told Dow Jones Newswires that Xinren planned an IPO of up to USD 200 million.

The company said it intended to use the proceeds to increase the capacity of its plant in China as well as for acquisitions and for general working capital.

XinRen is a producer of primary aluminium in China and is principally engaged in the smelting and sale of primary aluminium in the form of ingots and plates.

(Sourced from http://www.todayonline.com)