Weifu High-Technology Gets Approval For Private Placement

Date:2011-11-24houhaizhen  Text Size:

November 24 -- Weifu High-Technology Group (000581.SZ), a maker of fuel injection equipment, catalytic converters, and precision components, won approval from the China Securities Regulatory Commission for its private placement, reports yicai.com, citing a company filing.

According to a filing dated September 26, the company will issue up to 113 million shares at 25.395 yuan per share in order to raise a maximum of 2.87 billion yuan.

Funds raised will be used for the research and development of WAP, to raise the production capacity of common rail diesel injection systems, and for the construction of an industrial park.
 

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