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Shenzhen Zesum Technology Generates Surplus from IPO-Funded Projects, Reallocates Amount to Manufacturing Base Project

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Shenzhen Zesum Technology (SHE:301486) directors approved the reallocation of 438.7 million yuan in surplus funds from three projects funded by its initial public offering, according to a Wednesday filing with the Shenzhen bourse.

The Chinese producer of precision electronic parts will use 369 million yuan to invest in the construction of its high-end intelligent equipment manufacturing base project and expand production capacity.

The remaining 69.7 million yuan will go to the company's oversubscribed funds account.

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