Sunway plans to raise no more than 1.144 billion yuan through a private placement to its controlling shareholder
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According to the Zhitong Finance APP, Sunway disclosed a plan for a private placement of shares, with the subscriber being its controlling shareholder, Fuhua Chemical, which intends to subscribe to the shares issued in this private placement with cash. The total amount of funds to be raised from this share issuance is not expected to exceed 1.144 billion yuan, and after deducting issuance costs, the funds will be used for digital intelligence upgrades and comprehensive capability enhancement projects, marketing center and brand promotion projects, and to supplement working capital
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