Goldenmax International Group (SHE:002636) plans to raise up to 1.30 billion yuan from a private share placement, according to a Shenzhen bourse filing on Wednesday.
The company is yet to determine the details of the placement, including the investors who will subscribe to the company's shares under the transaction.
The proceeds will be used to fund the construction of a research and development center and a production line that will produce 40 million square meters of high-grade copper-clad laminates every year.
The Chinese copper-clad laminates product manufacturer's shares dropped less than 4% during the morning trade.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Comments