December 27 -- Shenzhen Selen Science and Technology (002341), a provider of clean room solutions, plans to raise up to 960 million yuan from a private placement of a maximum of 55.3 million shares at not less than 17.36 yuan per share to 10 designated investors, reports yicai.com, citing a company filing.

Of the total proceeds raised, 500 million yuan will be invested in a Tianjin industrial park project, 100 million yuan will be used to expand the production capacity of anti-electrostatic packaging materials, while 50.80 million yuan will be spent on research and development.

In addition, 179 million yuan will be used to supplement operating capital, and 100 million yuan will be used to repay bank loans.

According to the company, the proposed investments will help to expand its production capacity, optimize its industry chain, and improve its ability to serve its clients.

The Tianjin Industrial Park project will introduce automatic production, research, and equipment testing in the area of anti-electrostatic and clean room products.

The project is expected to generate output value of one billion yuan in five years.