Asia
Beijing Lier High-temperature Materials Seeks More Than 1 Billion Yuan from Private Placement
Beijing Lier High-temperature Materials (SHE:002392) is looking to raise up to 1.03 billion yuan from the sale of 357.1 million shares to 35 investors through a private placement, according to a Monday filing with the Shenzhen bourse.The company plans to use the proceeds to fund the construction of a composite zirconium oxide and zirconium-based materials project for new energy and aerospace applications with a capacity of 30,000 tons per year.Lier will also use the proceeds to construct a research and development facility, as well as a refractory materials production project in Vietnam, and for working capital.
SHE:002392
