CHINA: Cashmere Producer Erdos To Issue A-Shares
Erdos, which has already listed B-shares on the Shanghai Stock Exchange, is to issue around 80 million A-shares. The issue is expected to raise about 1bn yuan ($121m), according to the company. The expected issue price is set at 13 to 18 yuan per share. The proceeds raised from the issue will mainly be used to facilitate nine technical renovation projects, purchase raw materials and improve sales network.
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