STOCKS | Hangzhou Cable Co. Plans Up To 2.88 Billion Yuan Share Sale For Fiber And Copper Foil Projects

Hangzhou Cable Co. said it plans to issue A shares to specific investors and raise no more than 2.88 billion yuan. According to Jin10, after deducting issuance costs, the net proceeds are intended for a fiber preform, quartz mother material and new optical fiber research and manufacturing superfactory project, with 1.38128 billion yuan earmarked, and a 30,000-ton-a-year high-end electronic circuit copper foil project for artificial intelligence use, with 1.49858 billion yuan earmarked. The number of shares to be issued will not exceed 30% of the company’s total share capital, the pricing benchmark date will be the first day of the offering period, and the issue price will be no lower than 80% of the average trading price of the stock over the 20 trading days before the pricing benchmark date.