Fangda Carbon (600516.SH) issued an announcement. Chengdu Fangda Carbon Composite Materials Co., Ltd., a holding subsidiary of the company...
According to the Zhitong Finance App, Fangda Carbon (600516.SH) issued an announcement. Chengdu Fangda Carbon Composite Materials Co., Ltd. (Chengdu Carbon for short), a holding subsidiary of the company, has been doing well since it was listed in the basic layer of the national equity transfer system in March 2023. It intends to apply for a public offering of shares to unspecified qualified investors and be listed on the Beijing Stock Exchange. On December 7, 2023, the company held the 30th interim meeting of the 8th board of directors to deliberate and pass the “Proposal on Holding Subsidiaries to Apply for Public Issuance of Shares to Unspecified Qualified Investors and Listed on the Beijing Stock Exchange”.
After deducting issuance fees, the capital raised by Chengdu Carbon Materials will be invested in: nuclear graphite processing production line projects, isostatic graphite process capacity matching projects, smart factory construction and renovation projects, and supplementary working capital. Chengdu Carbon's application for the public offering of shares to unspecified qualified investors and listing on the Beijing Stock Exchange is in line with Chengdu Charcoal's strategic development plan, which is conducive to Chengdu Carbon's further expansion of production capacity, consolidation of market advantage, and strengthening and excellence; it is beneficial that Chengdu Carbon will further use the capital market to achieve an increase in the overall value of the company and Chengdu Carbon, and further enhance its sustainable profitability. After the issuance is completed, the company's share of Chengdu Charcoal will be diluted and declined, and the company's actual control over Chengdu Carbon will not be affected.