Zhitong Finance App News, Xingfa Group (600141.SH) announced that the company plans to issue A-shares to specific targets, and the controlling shareholder, Yichang Xingfa, plans to subscribe for shares issued by the company to specific targets for an amount not less than 100 million yuan (including the number of shares) and not more than 200 million yuan (including the number of shares). The total amount of capital raised after deducting the issuance of shares to specific targets is estimated to be no more than 3 billion yuan (including capital). The net capital raised after deducting the issuance fee will all be invested in: the Qiaogou Phosphate Mine 2.8 million tons/year mining project, the Qiaogou Phosphate Mine 5 million tons/year beneficiation project (phase 1), and bank loan repayment.

Disclaimer:Webull uses external vendor Google Translation Service for news translations where we endeavour to ensure these are correct, however, we recommend that you please double-check this information accordingly. Webull is not responsible for translation errors or issues.