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Do-Fluoride New Materials to Raise More Than 30 Million Yuan in Capital Through Share Issuance; Shares Fall 5%

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Do-Fluoride New Materials (SHE:002407) will raise 30.6 million yuan in capital for subsidiary Do-Fluoride Isotope Technology (Henan) by issuing shares to two investors, according to a Friday filing with the Shenzhen bourse.

Of the amount, 30 million yuan will go to registered capital, while 600,000 yuan will go to capital reserves.

Shanghai Borong No. 1 Management Consulting Partnership will contribute 20.4 million yuan, while Vice Chairperson Li Lingyun will contribute 10.2 million yuan.

Do-Fluoride waived its pre-emptive right to subscribe for new shares.

Following the transaction, Do-Fluoride's stake in Isotope Technology will fall to 46.36% from 51%.

The fluoride company's shares fell 5% during the midday break on Friday.

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