CIG ShangHai (SHA:603083, HKG:6166) is reallocating HK$1.77 billion of H-share offering proceeds from broadband, wireless and research and development/marketing uses toward expanding optical module production capacity, including 800G/1.6T products.
The funds will cover production machinery, equipment, raw materials and automation upgrades, a weekend filing with the Shanghai Stock Exchange showed.
Shares of the edge computing and optical-module maker rose 3% in recent trade on the Hong Kong bourse.
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