Putailai New Energy Technology to raise no more than RMB4.959 billion for Li-battery material projects
2020-03-27 16:44:13 [Print]
On March 26, Putailai New Energy Technology announced its A share private placement plan, hoping to raise a fund of no more than RMB4.959 billion (USD703 million) for its Li-battery projects; upon deduction of issuing costs, the fund to be raised will be used in the following projects: RMB1.014 billion (USD144 million) for a 50,000tpa high-performance Li-ion battery anode material project; RMB735 million (USD104 million) for acquiring a 49% stake in Shandong Xingfeng New Energy Technology Co., Ltd.; RMB428 million (USD60.63 million) for a 50,000tpa Li-ion battery anode material graphitizing project; RMB710 million (USD101 million) for a 24,900m2 per annum Li-ion battery membrane project; RMB278 million (USD39.38 million) for a Li-battery membrane high-speed line project; RMB309 million (USD43.78 million) for a high-safety 50,000m2 per annum coating membrane project for power batteries; and RMB1.485 billion (USD210 million) to supplement the company's working capital.
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