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FINWIRES

DapuStor Plans to Raise Credit Facility Cap to 11 Billion Yuan

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DapuStor (SHE:301666) plans to increase its comprehensive credit facility limit to up to 11 billion yuan, according to a Tuesday filing with the Shenzhen Stock Exchange.

The board of directors previously approved bank credit lines worth 6.5 billion yuan, but the cap has been raised by an additional 4.5 billion yuan to support the operational and funding needs of its subsidiaries.

The credit, which is valid until May 18, 2027, will cover working capital and project loans, trade financing, bill discounting, and bill acceptances.

Shares in the Chinese solid-state drive and storage chip maker dropped 4% during Tuesday morning trade.

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