BRIEF-Jiangshan Chemical, unit to acquire Zhejiang Construction valued at 5.3 bln yuan

April 27 (Reuters) - Zhejiang Jiangshan Chemical Co Ltd

* Says it and unit plan to buy Zhejiang Communications

Construction Group valued at 5.3 billion yuan ($768.78 million)

via share issue

* Says it aims to raise up to 1.3 billion yuan in private

placement of shares to fund project

Source text in Chinese:

Further company coverage:

($1 = 6.8940 Chinese yuan renminbi)

(Reporting by Hong Kong newsroom)