China Southern Power Grid Energy Storage (SHA:600995) plans to use the remaining funds of 300,800 yuan from its 2022 share placement to supplement its working capital, according to a Shanghai bourse filing on Thursday.
The Chinese state-owned power company raised net proceeds of up to 8 billion yuan in 2022 to fund five projects, which are now completed.
The company's shares slipped 1% during the afternoon trade.
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