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Suzhou Shijia Science & Technology Seeks Up to 403 Million Yuan from Private Placement

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Suzhou Shijia Science & Technology (SHE:002796) is looking to raise up to 402.8 million yuan from the sale of 75.7 million shares to 35 investors under a private placement, according to a Monday filing with the Shenzhen bourse.

The elevator system products manufacturer plans to use the proceeds for its electrical precision enclosure, energy storage container special equipment box industrialization, and research and development facilities, and working capital.

Shares fell 3% at the close of trading on Monday.

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