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Sinoma Science & Technology Plans 4.48-Billion-Yuan Private Placement; Shares Jump 10%

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Sinoma Science & Technology (SHE:002080) plans to raise up to 4.48 billion yuan via a private placement for specialty fiber fabric projects, payable repayment and working capital.

The offering, targeting up to 35 qualified investors including Zhonglian Investment, will mainly fund a 35-million-meter low-dielectric fiber fabric project and a 24-million-meter ultra-low loss variant, according to a Wednesday filing with the Shenzhen bourse.

The offering is subject to Shenzhen bourse review and China Securities Regulatory Commission registration.

Shares of the glass fiber manufacturer jumped 10% in recent trade.

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