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FINWIRES

Avary to Raise 9.60 Billion Yuan From Share Placement

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Avary Holding Shenzhen (SHE:002938) plans to raise up to 9.60 billion yuan through a private placement of shares, according to a Saturday filing on the Shenzhen Stock Exchange.

The company plans to place up to 231,753,665 shares, or 10% of its total share capital, to up to 35 investors.

The net proceeds will be deployed to fund the construction of its Qingding AI server and high-speed optical module high-density interconnect (HDI) build-up board project, which has a total planned investment of 12.73 billion yuan.

The Chinese printed circuit board manufacturer's shares slipped nearly 2% during Monday's morning trade.

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