iRay Technology Unit to Raise 50 Million Yuan from Investment Fund

MT Newswires Live

09/15

iRay Technology (SHA:688301) said its controlled grandchild company iRay New Materials will introduce Shanghai Lianxin Medical and Health M&A Private Equity Investment Fund as an investor through a 50-million-yuan capital increase.

The fund will contribute 50 million yuan for 2.5 million yuan in newly registered capital, taking a 10% stake in iRay New Materials.

iRay Taicang will waive its preemptive subscription right, with its holding in iRay New Materials dropping to 57.36% from 63.74%.

Shares of iRay Technology were up nearly 2% in recent trade.

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