GC
Gangfeng Lithium digs up plans for placement
Chinese company Gangfeng Lithium Co is gearing up to tap equity investors for as much as HK$4.9bn ($632m) from a private placement of its Hong Kong-listed shares, as it looks to raise money to expand some of its projects and investments.
The firm said in a filing that it plans to seek shareholder approval for the fundraising. On offer will be up to approximately 48m H-shares, or about 20% of Gangfeng Lithium’s total number of H-shares outstanding.
Based on Gangfeng Lithium’s Friday morning stock price of HK$101.9, the company ...Already a subscriber? Login
