6 Billion Yuan! Shangji to Increase for High-Purity Crystal Silicon Project

PVTIME – Wuxi Shangji Automation Co., Ltd.(603185.SH) announced on April 20 that it intends to raise no more than 6 billion yuan through a private placement offering, which will promote its development in the photovoltaic industry and fulfill China’s Dual-Carbon Goals.

The announcement shows an approval of non-public offering of shares with a number of share not exceeding 30% of the total share capital of the company, which will be no more than 82,567,800 shares. The issue price shall not be less than 80% of the average transaction price of the shares of the company in the 20 trading days prior to the pricing benchmark date, and the investors shall not exceed 35, while the company intends to raise for no more than 6 billion yuan.

After the completion of this non-public issuance of shares, 471,9677,400 yuan is planned to be used for a high purity crystal silicon project with annual output of 50,000 MT in Baotou City, Inner Mongolia. And the rest of the funds to be raised as supplementary working capital, after deducting the issuing costs.