Asia
Hunan Aihua to Raise 1.88 Billion Yuan From Share Placement
Hunan Aihua Group (SHA:603989) plans to raise 1.88 billion yuan from a share placement, according to a Shanghai bourse filing over the weekend.The Chinese aluminum foils producer's shares dropped 3% at the close of Monday's trade.The company will place up to 119,633,958 shares, or 30% of the company's total shares.A majority of the proceeds will be used for the expansion of an integrated high-end capacitor capacity project, and the remaining amount will be used to supplement of the company's working capital.
SHA:603989
