SHANGHAI, Jul. 15 (SMM) – Camel Group proposes to collect money to construct motive lithium battery and scrap lead-acid battery treatment projects, hexun.com reported.
The company will issue less than 80 million shares with 25.29 yuan per share to raise no more than 2 billion yuan ($ 3,263.6 million) mainly for motive lithium batteries, a 150,000 tpy scrap battery processing project, and an E-commerce platform.
Of them, 0.9 billion yuan will be used in the motive lithium battery project that will take two years for construction. Once hitting its capacity, the project is expected to create 234 million yuan in net profit per year.
352 million yuan will be injected into scrap lead-acid battery treatment project, which will take two years to construct and is designed to make net profits of 27.97 million yuan per year after it starts operation.
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