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Bojay Electronics to Raise 1.50 Billion Yuan From Share Placement; Shares Down 6%

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Zhuhai Bojay Electronics (SHE:002975) plans to raise up to 1.50 billion yuan from a share placement, according to a Friday disclosure on the Shenzhen bourse.

The company will place up to 62,439,220 shares, or 30% of the total share capital.

The proceeds will fund the expansion of a server testing equipment and thermal module components plant, the construction of an advanced research and development center, and the company's working capital.

Shares of the industrial automation equipment manufacturer fell nearly 6% in recent trade.

What else is happening in Asia?

Asia

Hearts and Minds Investments Posts Lower August Net Tangible Asset

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ASX:HM1
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KLSE:CEB
Asia

White Energy Company Confirms Acquisition of Essential Global Resources, Oceltip Coal 2 Completed; Shares Fall 5%

White Energy Company (ASX:WEC) confirmed the completion of the acquisition of Essential Global Resources and Oceltip Coal 2, which has acquired the Tin Hut Creek project and associated assets, according to a Friday Australian bourse filing.White Energy issued 83.3 million fully paid ordinary shares to the shareholders of Essential Global as consideration for the acquisition of the membership interests in Essential Global. In connection with the Oceltip Coal 2 acquisition, the purchase price was AU$4.5 million, as adjusted for debts and other liabilities at completion.It also completed a placement to institutional and professional investors to raise AU$15 million at an issue price of AU$0.06 per share.Nathan Tinkler was appointed as Managing Director and Executive Chair of White Energy, succeeding Brian Flannery as Chairman.Its shares fell 5% in recent trading on Friday.

ASX:WEC