Xiamen Tungsten New Energy to raise no more than RMB3.5 billion for lithium-ion battery cathode material capacity expansion project
2022-03-02 15:17:12 [Print]
Xiamen Tungsten New Energy announced on March 1 that the company plans to issue shares to Xiamen Tungsten, Metallurgical Holdings Investment, Sangang Minguang, and Panluo Iron Mine to raise a total of no more than RMB3.5 billion (USD554 million), and the net proceeds after deducting the issuance costs will be used for the 30,000-ton capacity expansion project of lithium-ion battery cathode material in Haijing Base's 9# workshop, replenishing working capital and repaying bank loans.
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