Hangdian Shares Plans Up to 2.88 Billion Yuan Private A-Share Placement

Hangdian Shares said it plans to raise no more than 2.88 billion yuan through a private placement of A shares to specific investors, according to 36Kr. Net proceeds will be used for a super-factory project for fiber preforms, quartz base materials and next-generation optical fiber R&D and manufacturing, with 1.38128 billion yuan allocated, and for a 30,000-ton-a-year project for high-end electronic circuit copper foil for AI use, with 149.858 million yuan allocated. The company said the issuance will not exceed 30% of its total share capital, with the pricing benchmark set on the first day of the offering period and the issue price set at no less than 80% of the average trading price over the 20 trading days before the benchmark date.