SHE:002392

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Beijing Lirr High-temperature Materials Decreases Cap for Private Placement Proceeds

Beijing Lirr High-temperature Materials (SHE:002392) revised downward the upper limit of proceeds from its planned private placement of 357.1 million shares, according to a Thursday filing with the Shenzhen bourse.The upper limit will now be 775.4 million yuan from the original cap of 1.03 billion yuan, following a reduction of the working capital allocation to 232.6 million yuan from 307.6 million yuan.

SHE:002392

Asia87d ago

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.

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