iRay Technology (SHA:688301) is looking to offer 30,032,755 shares to specific investors, according to a Thursday filing with the Shanghai bourse.
The X-ray system components manufacturer will use the 1.17 billion yuan in proceeds to construct X-ray vacuum devices.
China International Capital Corp (HKG:3908, SHA:601995) is the sponsor and lead underwriter of the issuance.
Shares slid 3% during morning trading on Thursday.
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.