HongTeo Technology plans to issue no more than 4 shares for every 10 shares held, raising no more than 650 million yuan through the share placement
HongTeo Technology plans to allocate shares to existing shareholders, with a maximum of 4 shares allocated for every 10 shares held, expecting to raise no more than 650 million yuan. The funds raised from this share allocation will be used for the construction of an automotive parts production base in Thailand, technological transformation of the Zhaoqing production base, construction of the headquarters R&D center, and to supplement working capital
According to the Zhitong Finance APP, HongTeo Technology (300176.SZ) has disclosed a plan to allocate shares to existing shareholders. This share allocation is proposed to be based on the total number of shares after the market closes on the share allocation registration date, with a ratio of no more than 4 shares allocated for every 10 shares held by all shareholders. If calculated based on HongTeo Technology's total share capital as of December 31, 2024, the number of shares to be allocated in this offering will not exceed 155 million shares.
The funds raised from this share allocation will not exceed RMB 650 million, and after deducting related issuance costs, will be used entirely for the construction project of the automotive parts production base in Thailand (Phase I), the technical transformation project of the Zhaoqing production base, the construction project of the headquarters R&D center, and to supplement working capital
