HUHUA plans to raise no more than 586 million yuan through a private placement for multiple projects and to supplement liquidity
HUHUA plans to raise no more than 586 million yuan by issuing A-shares to specific targets, mainly for multiple projects, including the automation and informatization transformation of civil explosive production lines and storage systems, the purchase of mining engineering machinery and equipment, the construction of an automated production line with an annual output of 2,000 tons of detonators, and to supplement working capital
According to the Zhitong Finance APP, HUHUA (003002.SZ) disclosed the plan for issuing A-shares to specific targets in 2025. The issuance price will not be lower than 80% of the average trading price of the company's shares over the 20 trading days prior to the pricing benchmark date. The number of shares issued to specific targets will be determined by dividing the total amount of funds raised by the issuance price, and will not exceed 30% of the company's total share capital before this issuance, which is no more than 60 million shares (including this number).
In addition, the total amount of funds raised from this issuance of shares to specific targets will not exceed 586 million yuan (including this number), and the net amount of funds raised after deducting issuance expenses is intended to be used for the automation and information transformation projects of civil explosive production lines and storage systems; the purchase project of mining engineering machinery and equipment; the new project of an automated and intelligent production line for detonators with an annual output of 2,000 tons; and to supplement working capital
