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Focuslight Technologies Proposes to Raise 1.02 Billion Yuan From Share Placement

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Focuslight Technologies (SHA:688167) proposed to raise proceeds of up to 1.02 billion yuan from a share placement, according to a Shanghai bourse filing on Saturday.

The semiconductor products distributor's shares dropped 8% at the close of Monday's trade.

The proceeds will be used for the construction of facilities for high-end core optical components, high-performance substrate materials for optical communication lasers and equipment for core optical interconnection components.

The remaining proceeds will be used to supplement the company's working capital.

The company plans to place up to 6,506,948 shares with up to 35 investors.

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