Angel Yeast Plans Convertible Bond Issuance to Raise Up to 3.5 Billion Yuan

Stock News09-24

According to an announcement, Angel Yeast Co.,Ltd. (600298.SH) intends to issue convertible corporate bonds with a total fundraising amount not exceeding 3.5 billion yuan (inclusive of that amount).

After deducting issuance expenses, the proceeds are planned to be invested in the following projects: Phase II of the company's Baiyang Biotechnology Park project in Yichang High-tech Zone, the company's yeast protein core technology research project in Yichang, the 2,0000-ton-per-year yeast products green manufacturing project of Kokdala Angel Yeast Co., Ltd., the park factory's 60,000-ton-per-year food ingredient flexible intelligent manufacturing and supporting project, and supplementary working capital.

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