Guangdong Xianglu Tungsten (SHE:002842) will adjust the allocation of proceeds from its private placement of shares to reflect the lower amount raised.
The net proceeds of 477 million yuan fell short of the 490.8 million yuan target, driving the company to adjust its working capital allocation to 75.9 million yuan from 89.7 million yuan, according to a Tuesday filing with the Shenzhen bourse.
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.