Chinese polysilicon maker GCL-Poly announced to sign a placement agreement with the exclusive placement agent this morning to issue no more than 2.036588 billion shares at HK $2.49/share, and the raised funds will be used for capital expenditure and general working capital purposes.
If the placement can be completed in full, the amount raised is expected to be about HK $5.071 billion (about RMB 4.139 billion), and the net amount after deducting the costs and expenses related to the placement is about HK $4.994 billion (about RMB 4.076 billion). The placement shares account for 8.13% of the total share capital before the issuance and 7.52% of the total share capital after the issuance.
