Shenzhen Senior Technology Material Submits Application Proof for Hong Kong Secondary Offering; Shares Fall 3%

MT Newswires Live

02/02

Shenzhen Senior Technology Material (SHE:300568) submitted documents for its secondary offering of shares on the Hong Kong Stock Exchange, according to a Monday disclosure to the Shenzhen bourse.

The lithium-ion battery separator manufacturer plans to use the proceeds from its secondary offering to fund research and development, expansion of its manufacturing bases in Malaysia and in the U.S., investments in battery separator materials companies, loan repayments, and for working capital, according to an application proof submitted to the Hong Kong bourse.

Shares fell 3% during late morning trading on Monday.

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