Zhitong Financial APP News, Sanfangxiang (600370.SH) disclosed the 2021 non-public issuance of A-share shares, and the non-public issuance of shares was for no more than 35 specific investors, including the controlling shareholder Sanfangxiang Group. Among them, Sanfangxiang Group intends to subscribe for a total amount of not less than 200 million yuan and not more than 800 million yuan (including 800 million yuan) in cash. The number of shares issued in this non-public offering shall not exceed 30% of the total share capital of the Company prior to the issuance, and the total number of shares in the non-public offering shall not exceed 1.169 billion shares (inclusive) based on the total share capital of the Company as of October 28, 2021, which is 3.896 billion shares.
According to the announcement, the total amount of funds raised in this non-public offering of shares does not exceed 4.5 billion yuan, and after deducting the issuance fee, it is planned to invest in the following projects: 4.2 billion yuan for the PTA technical transformation and expansion project of Jiangsu Hailun Petrochemical Co., Ltd., and 300 million yuan for supplementary working capital.
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