Sichuan Hongda (SHA:600331) raised net proceeds worth 2.83 billion yuan from a private share placement, according to a Shanghai bourse filing on Friday.
The Chinese fertilizer manufacturer issued 609,600,000 shares to its controlling shareholder, Shudao Investment Group, for 4.68 yuan per share.
After the transaction, Shudao's shareholding in the company rose to 41.49% from 23.93%.
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