FSPG Hi-Tech to Raise 4 Billion Yuan via Share Placement
MT Newswires Live
Sep 04
FSPG Hi-Tech (SHE:000973) plans to raise up to 4 billion yuan from a share placement scheme, according to a Shenzhen bourse filing on Friday.
Among the investors is the polymer functional film maker's controlling shareholder, Guangdong Guangxin Holdings Group, which intends to subscribe for shares worth between 400 million yuan and 1 billion yuan. The subscription amount will not exceed 50% of the actual proceeds.
Proceeds will be used as funding for two separator film projects that will be built in the Chinese city of Shaoguan and the county of Wu'an.
The remaining proceeds amounting to 600 million yuan will be used to replenish the company's working capital.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.