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CIG Shanghai Taps Into Equity Markets For HK$1.98 Billion Fund Raise; Shanghai Shares Up 3%

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CIG Shanghai (HKG:6166, SHA:603083) is looking to raise HK$1.98 billion via a stock offering, according to a Thursday filing with the Hong Kong bourse.

Shanghai shares of the company gained over 3% in morning trade Thursday.

The data transmission device maker is seeking investors for 15.6 million shares priced at HK$126.66 apiece to raise funds for general working capital.

The shares represent 20.24% of the company's issued H shares and 4.42% of total issued shares, and 16.84% and 4.24% as enlarged by the offering, respectively.

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