Foshan Golden Milky Way Intelligent Equipment (SHE:300619) is looking to raise up to 1.50 billion yuan from the sale of 226.2 million shares to up to 35 investors through a private placement, according to a Monday filing with the Shenzhen Stock Exchange.
The automated production equipment manufacturer will use the proceeds to fund its industrialization project for research and development and industrialization projects for its batteries, as well as its silicon-based and polymer-based materials project, and working capital.
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