Report: China Shipbuilding Plans 17.5B Yuan Private Placement

China Shipbuilding Industry plans to raise 17.46 billion yuan through a private placement of 2.52 billion shares to seven designated investors at 6.93 yuan per share, accroding to a report on http://www.capitalvue.com, citing reports 163.com. According to the report, the company’s total shares outstanding will increase to 9.17 billion shares after the private placement is completed. The company’s parent, China Shipbuilding Industry Corporation (CSIC), will hold 5.02 billion shares, or a 54.74 percent stake, upon the completion of the private placement.
(Source: http://www.capitalvue.com)