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FINWIRES

Fiberhome Seeks Up to 2.9 Billion Yuan in Private Placement

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Fiberhome Telecommunication Technologies (SHA:600498) is looking to raise up to 2.91 billion yuan from the sale of shares to 35 investors under a private placement deal, according to a Saturday filing with the Shanghai bourse.

The number of shares will not exceed 30% of the entire shareholding of the telecommunications equipment company.

Proceeds will be used to fund Fiberhome's optical fiber manufacturing and perform industrial projects, as well as a production base in Thailand, upgrades to its hollow-core fiber key performance project, and the purchase of the remaining 60% stake in the Fujikura Fiberhome project.

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