Sieyuan Electric (SHE:002028) submitted its application proof for its secondary offering of shares on the Hong Kong Stock Exchange, according to a Thursday bourse filing in Shenzhen.
The power transmission and distribution equipment manufacturer plans to use the proceeds from its planned offering to expand production capacity, boost research and development, build its global service network, fund digital upgrades, and mergers and acquisitions.
Funds raised will also go towards increasing working capital, according to documents filed with the Hong Kong stock exchange on Wednesday.
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