MGL New Materials plans to raise no more than 980 million yuan through a private placement, with the controlling shareholder participating in the subscription of 200 million yuan
MGL New Materials plans to raise no more than 980 million yuan by issuing A-shares to specific investors, among which the controlling shareholder Hengtong New Energy will participate in the subscription of 200 million yuan. The issuance targets include no more than 35 specific investors, and the raised funds will be used for a project to produce 30,000 tons of lithium-ion battery cathode materials annually and to supplement working capital
According to the Zhitong Finance APP, MGL New Materials (301487.SZ) has announced a plan to issue A-shares to specific investors for the year 2025. The recipients of this issuance will include no more than 35 specific investors, including the company's controlling shareholder, Hengtong New Energy. The company has signed a conditional share subscription agreement with Hengtong New Energy, which intends to subscribe for an amount of 200 million yuan in cash.
The total amount of funds to be raised in this issuance is not expected to exceed 980 million yuan (including the principal), and after deducting issuance costs, the funds will be invested in the following projects: an annual production project of 30,000 tons of lithium-ion battery cathode materials and to supplement working capital
