Shenzhen Sunshine Laser & Electronics Technology (SHE:300227) plans to issue 58,000,000 shares to Junguang Investment, according to a Saturday filing with the Shenzhen Stock Exchange.
The share purchase is equivalent to 448.9 million yuan, or 10.5% of the entire share count of the company following the purchase, the filing said.
Shares closed about 6% lower during Monday's trading.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.