Western Metal Materials Seeks Up to 1.19 Billion Yuan Via Private Placement
MT Newswires Live
Oct 08
Western Metal Materials (SHE:002149) is looking to raise up to 1.19 billion yuan from the sale of 130.7 million shares to up to 35 investors through a private placement, according to a Thursday filing with the Shenzhen Stock Exchange.
The rare metal materials company plans to use the proceeds to fund updates for its rare and precious metal materials production line, as well as its tungsten and molybdenum industrialization project. It will also use the proceeds for the titanium and titanium alloy precision casting production line and cold-rolled foil and strip production line project.
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