Lopal Tech Taps Equity Markets For Jintan Project Fund Raise
MT Newswires Live
Jun 17
Jiangsu Lopal Tech (SHA:603906, HKG:2465) said it was seeking to raise funds to advance its Jintan project via an equity offering, according to a Wednesday filing with the Hong Kong bourse.
The company is seeking investors for 15 million shares priced HK$13.09 apiece for net proceeds of HK$193.7 million.
The shares represent 12.50% and 1.93% of the company's issued H shares and total shares and 11.11% and 1.90% as enlarged by the offering, respectively.
The funds are earmarked for a high-tap density lithium iron phosphate production base in Jintan, Jiangsu. Funds will also be used to repay prior borrowings.
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.