---
title: "MGL New Materials: Raises RMB 866 Million Through Private Placement of Shares"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/304605047.md"
description: "MGL New Materials announced that its private placement of shares to specific investors has received registration approval from the China Securities Regulatory Commission (CSRC). The final issue price was set at RMB 14.50 per share, with a total of 15 subscribers. The company issued 59.7241 million shares, raising a gross total of RMB 866 million. After deducting issuance expenses, the net proceeds amounted to RMB 854 million. Among the subscribers, the controlling shareholder, Hengtong New Energy Technology Co., Ltd., was allocated 13.7931 million shares subject to an 18-month lock-up period, while the remaining subscribers are subject to a 6-month lock-up period. The issuance process and subscribers comply with relevant regulatory requirements"
datetime: "2026-11-06T08:46:09.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/304605047.md)
  - [en](https://longbridge.com/en/news/304605047.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/304605047.md)
generator: "portal-rs"
---

# MGL New Materials: Raises RMB 866 Million Through Private Placement of Shares

MGL New Materials announced that its private placement of shares to specific investors has received registration approval from the China Securities Regulatory Commission (CSRC). The final issue price was set at RMB 14.50 per share, with a total of 15 subscribers. The company issued 59.7241 million shares, raising a gross total of RMB 866 million. After deducting issuance expenses, the net proceeds amounted to RMB 854 million. Among the subscribers, the controlling shareholder, Hengtong New Energy Technology Co., Ltd., was allocated 13.7931 million shares subject to an 18-month lock-up period, while the remaining subscribers are subject to a 6-month lock-up period. The issuance process and subscribers comply with relevant regulatory requirements.

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> **Disclaimer: This article is for reference only and does not constitute any investment advice.**