Suzhou Dongshan Precision Manufacturing (SHE:002384) or DSBJ plans to raise 1.50 billion yuan from the issuance of shares to fund its working capital, according to a Shenzhen Stock Exchange filing on Saturday.
Each share will be priced 11.49 yuan.
A total of 130.5 million shares will be issued to the company's actual controllers, Yuan Yonggang and Yuan Yongfeng. They will remain as the company's actual controllers after the issuance.
Haitong Securities (HKG:6837, SHA:600837) serves as the lead underwriter for the issuance, the Chinese precision metals manufacturer said.
The company's shares dropped 10% in recent trade.
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