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News Update: Sino Clean Energy Falls on Offering $35M of Common Stock

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Sino Clean Energy Inc. (SCEI) is falling in morning trade, after the company said it will offer up to $35 million of common stock. Funds raised will be used to boost its production capacity and for general corporate purposes.

The Chinese producer of coal water slurry fuel listed on Nasdaq June 14.

Shares in the company opened at $7.55.
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