Newssummary: Narada Power Raises Fund to Construct 10 million kVAh per year Lead Battery Project

SHANGHAI, Jun. 3 (SMM) –  Narada Power Source Co. will raise fund to construct a lead battery project with capacity of 10 million kVAh per year in four years, eastmoney.com reported.

Valve regulated lead acid battery, the project’s product, will be mainly used in new energy power, energy store, back-up system and auto’s startup or shutdown control system.

The company will non-publicly issue 1,750 million of shares at most with each share of 14 yuan to raise money of no more than 2.45 billion yuan, of which 1.16 billion yuan will be used to construct the project. Also, the project will gain 4 billion yuan of sale revenue per year once put into production.

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