CNGR to raise RMB5 billion for Beibu Gulf project
2021-06-25 17:51:53 [Print]
On the evening of June 24, CNGR unveiled its Share-A private placement proposal, planning to issue no more than 56
According to the proposal, the company plans to invest RMB3.5 billion (USD0 . 54 billion) of the to-be-raised fund into the Beibu Gulf industrial base project of Guangxi CNGR New Energy Technology Co . , Ltd . and also to use the remaining RMB1 . 5 billion (USD0 . 23 billion) to supplement working capital.
The Beibu Gulf project has a total planned investment of RMB5.99 billion (USD0 . 93 billion) and will consist of six ternary precursor production workshops, three nickel sulfate (MSP) production lines, two nickel sulfate (nickel dissolution) production lines, one cobalt sulfate (cobalt hydroxide) production line and matching public facilities . Its designed production capacities include 180,000t of ternary precursor per year, 110,000 metal tons of nickel sulfate solution per year, and 10,000 metal tons of cobalt sulfate per year . When it ramps up to nameplate capacities, it is expected to bring in an annual operation revenue of RMB16 . 21 billion (USD2 . 51 billion) and annual after-tax profit of RMB1 . 63 billion (USD0 . 25 billion) on average.
. 965 million shares (no higher than 30% of the company's total shares before this offering) to no more than 35 targeted investors to raise no more than RMB5 billion (USD0 . 77 billion). According to the proposal, the company plans to invest RMB3.5 billion (USD0 . 54 billion) of the to-be-raised fund into the Beibu Gulf industrial base project of Guangxi CNGR New Energy Technology Co . , Ltd . and also to use the remaining RMB1 . 5 billion (USD0 . 23 billion) to supplement working capital.
The Beibu Gulf project has a total planned investment of RMB5.99 billion (USD0 . 93 billion) and will consist of six ternary precursor production workshops, three nickel sulfate (MSP) production lines, two nickel sulfate (nickel dissolution) production lines, one cobalt sulfate (cobalt hydroxide) production line and matching public facilities . Its designed production capacities include 180,000t of ternary precursor per year, 110,000 metal tons of nickel sulfate solution per year, and 10,000 metal tons of cobalt sulfate per year . When it ramps up to nameplate capacities, it is expected to bring in an annual operation revenue of RMB16 . 21 billion (USD2 . 51 billion) and annual after-tax profit of RMB1 . 63 billion (USD0 . 25 billion) on average.