August 11 – Huayi Compressor (000404.SZ) won approval from the China Securities Regulatory Commission to carry out a private placement, reports yicai.com, citing a company filing.

The firm will issue 100-200 million shares to raise as much as 1.1 billion yuan. Issuance prices were adjusted down from 7.85 yuan to 6.85 yuan per share.

Sichuan Changhong Electric (600839), a major shareholder, will use 300 million yuan to subscribe the issuance. Proceeds will be used to build a production facility with annual capacity of five million compressors and will also fund the formation of a research center. Remaining cash will supplement operations.

Source:CapitalVue