China Nuclear Engineering (SHA:601611) plans to raise up to 4 billion yuan from the sale of 407.2 million shares to 35 investors through a private placement, according to a Friday filing with the Shanghai Stock Exchange.
The company will allocate proceeds from the private placing to the civil engineering works for phase 1 of the Jiangsu Xuwei Nuclear Power Plant as well as engineering and installation works for the Zhejiang Jinqimen Nuclear Power Plant, and bank loan repayments.
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