Keyuan Petrochemicals Completes Private Placement; Raised $20.3M in Gross Proceeds

Keyuan Petrochemicals Inc. completed a private placement financing with institutional investors. The China-based maker of petrochemical products raised gross proceeds of $20.3 million from the transaction. It plans to use the capital to buy raw materials for its petrochemical production facility. The lead investor was Prax Capital, which is a a China-focused private equity fund.

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