Huayou Cobalt announced that on December 29, 2020, the company received a "reply on approving the non-public offering of Zhejiang Huayou Cobalt Co., Ltd." approved by the China Securities Regulatory Commission ("CSRC").
It is reported that the CSRC has approved the non-public issuance of no more than 342 million new shares, and if the increase in share capital and other circumstances lead to changes in the total share capital, the number of shares issued may be adjusted accordingly. The reply shall be valid for 12 months from the date of approval of issuance.
The company intends to raise no more than 6.018 billion yuan, and the funds will be used for the high nickel matte project with an annual output of 45000 tons, the ternary precursor material project for high nickel power battery with an annual production capacity of 50, 000 tons, the construction project of Huayou headquarter research institute and supplementary liquidity
