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Beijing Yuanliu Hongyuan Electronic Technology to Raise Up to 300 Million Yuan; Shares Down 3%

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Beijing Yuanliu Hongyuan Electronic Technology (SHA:603267) seeks to raise up to 300 million yuan to fund projects and working capital, according to a Thursday filing with the Shanghai bourse.

Proceeds of 123.7 million yuan are earmarked for multilayer ceramic capacitor technology upgrades, 140.9 million yuan for micro/nano system packaging and 35.4 million yuan for working capital.

The issuance targets up to 35 qualified investors at a minimum price of 80% of the 20-day average price.

Shares of the technology company were down 3% in recent trade.

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