AVIC Sanxin Co Ltd<002163>, which is principally engaged in the design and undertaking of curtain wall projects, on Mar. 3 announced plans to raise RMB 2.08 billion via a private placement to develop several special glass projects in Hainan Province.
 
According to the plans, the Shenzhen-listed firm will issue not more than 125 million shares to ten selected investors at a price of RMB 16.54 apiece.
 
AVIC General Aircraft Co Ltd, the parent company of the issuer, will subscribe at least 15% of the to-be-issued shares, sources reported.
 
The special glass projects include a research and development center and a project for solar power glass production with a daily output capacity of 500 tons.
 
On Mar. 1, AVIC Sanxin, formerly known as Shenzhen Sanxin Special Glass Tech Co Ltd, said it intends to invest RMB 3.5 billion to start a special glass production base in Fengyang, Anhui Province.
 

 
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