CSIC to issue RMB8.48bn shares

Beijing: China Shipbuilding Industry Corporation (CSIC) announced that the company is planning to issue up to 2.208bn shares to raise around RMB8.48bn in funds.
Around RMB3.275bn of the funds will be used to purchase military equipment assets from Dalian Shipbuilding Industry and Wuchang Shipbuilding Industry, and the remaining RMB5.2bn fund will be used for military-related technical reconstruction projects and replenishment on operational capital of military-related projects. [17/12/13]

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