07
Apr
11:35
Yongjin raises $173m for capacity expansion
Shanghai-listed Zhejiang Yongjin Metal Technology has successfully raised CNY 1.188 trillion ($173 million) by issuing new shares, after deducting various issuance fees, Kallanish notes.
22 buyers participated in the subscription in cash, and promised not to trade the shares within 6 months.
According to initial plans, the raised funds will be used to replenish working capital, and to support its precision stainless steel strip project in Gansu Province and the w…
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Very good overview of the weekly steel market.
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