ZCZL Industrial Technology Seeks Up to 4.35 Billion Yuan from Convertible Bond Issuance

MT Newswires Live

06/22

ZCZL Industrial Technology (SHA:601717, HKG:0564) is looking to raise up to 4.35 billion yuan from the issuance of 43.5 million convertible bonds, according to a Monday filing with the Shanghai bourse.

The bonds have a term of six years.

Proceeds will be used for its new energy vehicle high-end parts industrial base project, the high-end hydraulic components production system intelligent upgrade, intelligent mobile robot manufacturing base, manufacturing full-scenario R&D center project, and working capital.

Shares fell 2% during morning trading in Shanghai and Hong Kong.

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