CNBM to Invest 55 Million Yuan in Sinoma Advanced Capital Increase

MT Newswires Live

08/17

China National Building Material (HKG:3323) plans to invest 55 million yuan in the capital increase of Sinoma Advanced, according to an Aug. 14 Hong Kong bourse filing.

The investment will give CNBM about 5.46 million additional shares in Sinoma Advanced at 10.07 yuan each, while its stake will be diluted to 28.61% from 33.12% following the capital increase.

The total capital contribution will be about 98.3 million yuan, with other shareholders contributing cash or equity.

Sinoma Advanced develops and manufactures ceramic and crystal materials used in semiconductors, electric power, new energy, and other industries.

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