Chinese PV Industry Brief: Jinchen to raise funds for production equipment

Jinchen says it aims to raise CNY 1 billion ($140 million) through a private placement of shares.Jinchen, a PV equipment supplier, said that it has secured approval from the Shanghai Stock Exchange (SSE) for a private placement of A-shares. Jinchen plans to issue 22,527,596 A-shares to 13 specific investors, in order to raise CNY 1 billion. The average issuing price per share will be CNY 44.39, or a 17% discount from Jinchen's closing price on Wednesday. The company plans to allocate 41% to its East China smart production project, focusing on module automation lines and cell automation equipment. ...

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