Sieyuan Electric's (SHE:002028) unit, Jiangsu Rugao High Voltage Electrical Appliance, plans to invest 600 million yuan for its expansion and construction, according to a Thursday disclosure on the Shenzhen bourse.
The funds will be used for Rugao High Voltage's production and business activities, as well as for the acquisition of land that will serve as its site.
The power transmission and distribution equipment manufacturer's shares rose 1% 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