BRIEF-Hengli Petrochemical to buy two firms for 11.5 bln yuan

April 16 (Reuters) - Hengli Petrochemical Co Ltd

* Says to buy company owner's two affiliates for a combined

11.5 billion yuan ($1.67 billion) via share issue

* Says it aims to raise up to 11.5 billion yuan by private

placement of shares to fund company's chemical project

Source text in Chinese:

Further company coverage:

($1 = 6.8835 Chinese yuan renminbi)

(Reporting by Hong Kong newsroom)