OLED Material Tech to Raise 300 Million Yuan from Share Issuance

MT Newswires Live

Sep 12

Jilin OLED Material Tech (SHA:688378) is looking to raise 299.9 million yuan from the issuance of 17,433,843 shares to specific investors, according to a Friday filing with the Shanghai bourse.

The shares will be issued at 17.20 yuan apiece.

Of the proceeds, 239.9 million yuan from the issuance will be used to fund the organic light-emitting diode photosensitive polyimide material production base project while 60 million yuan will help replenish working capital.

Shares closed 1% lower during afternoon trading on Friday.

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