Gotion High-tech (SHE:002074) plans to raise net proceeds of up to 5 billion yuan from a share placement to fund three projects, according to a Shenzhen bourse filing on Friday.
The shares will be issued to up to 35 investors.
The battery maker will use the net proceeds for the construction of a 20-gigawatt-hour power battery plant, a 20 GWh new energy battery base plant and a new-type lithium-ion battery intelligent manufacturing base plant, as well as for the supplementation of the company's working capital.
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