September 8 -- Shinva Medical Instrument (600587) plans to distribute three shares for every 10 held in order to raise 645 million yuan, reports Shanghai Securities News, citing the company’s announcement.

Shinva Medical had total capital of 134 million shares as of June 30.

Of the total expected funds to be raised through the share distribution, some 97 million yuan will be used to build a digital integrated operating room facility, with annual production capacities of 260 units, which is expected to be able to generate revenue of 156 million yuan and gross profit of 43.67 million yuan annually. Shinva Medical will invest 49.6 million yuan to build production facilities of dental equipment, with annual capacity of 210 pieces of dental prosthesis equipment and 5,200 pieces of dental sterilization equipment, which is able to generate revenue of 81 million yuan and gross profit of 26.48 million yuan.

The aforementioned production facilities are expected to generate revenue of 342 million yuan and gross profit of 104 million yuan.

Shinva Medical reported last month that its net profit rose 94.8 percent year-on-year to 49 million yuan in the first half of 2011, and its revenue increased 86.4 percent year-on-year to 954 million yuan.

Revenue from operating room engineering was 20 million yuan last year, a figure that is expected to rise to 50 million yuan this year.

Source:capitalvue