September 2 -- Shenzhen SDG Information’s (000070) shareholder meeting approved a private placement proposal today, reports the Security Times.

SDG hopes to issue 25 million shares at 8.41 yuan per share to raise 191 million yuan for expanding production capacity of optical cables and fibers. SDG’s share price closed at 10.99 yuan yesterday, a premium of 30 percent over the planned private placement price.

The proposal of its parent on a stake transfer at Shenzhen Xinxingsuo Optical Fiber Cable Communications was also approved on the meeting
 

Source:capitalvue