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China Shipbuilding Industry OKed to Sell CNY2.21bn Shares
China Shipbuilding Industry Company announces that it January 7 gained a regulatory approval to issue not more than 2.21 billion new shares in a non-poublic offering. Validity period is six months.
Earlier, the company planned to issue not more than 2.208 billion shares to Dalian Shipbuilding Industry and Wuchang Shipbuilding Industry at not less than CNY 3.84 each and finance CNY 8.48 billion. CNY 3.28 billion of the financing will be used to take over significant military equipment general assembly assets and business, CNY 2.66 billion will be invested in military industry and trade and energy equipment projects and CNY 2.54 billion will be used to replenish working capital.
China Shipbuilding Industry Corporation will see holdings fall from 69.48% to 63% after the non-public offering, remaining controlling shareholder.
Source: China Shipbuilding Industry Co Ltd
Earlier, the company planned to issue not more than 2.208 billion shares to Dalian Shipbuilding Industry and Wuchang Shipbuilding Industry at not less than CNY 3.84 each and finance CNY 8.48 billion. CNY 3.28 billion of the financing will be used to take over significant military equipment general assembly assets and business, CNY 2.66 billion will be invested in military industry and trade and energy equipment projects and CNY 2.54 billion will be used to replenish working capital.
China Shipbuilding Industry Corporation will see holdings fall from 69.48% to 63% after the non-public offering, remaining controlling shareholder.
Source: China Shipbuilding Industry Co Ltd
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