Xiangtan Electrochemical Scientific revises private stock offering plan
2020-02-20 16:35:35 [Print]
On the evening of 19 February, Xiangtan Electrochemical Scientific Ltd. announced the revise of its private A-share offering plan. According to the revised plan, the company will raise no more than RMB528 million (USD75.26 million) from no more than 35 investors to construct the high-performance LMO battery cathode material project and other projects. Hanzhou Eletrochemical Group, the controlling shareholder of Xiangtan Electrochemical Scientific Ltd., and Zhen Xiangguo, an indirect controlling shareholder of Xiangtan Electrochemical Scientific Ltd., subscribed RMB100 million (USD14.25 million) and RMB150 million (USD21.38 million) respectively. The issuing price won't be lower than 80% of the average transaction price of corporate stock in 20 trading days before the pricing benchmark.
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