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Nantian Electronics to raise RMB 451 mln via placement

May. 3, 2012 (China Knowledge) – Yunnan Nantian Electronics Information Co Ltd<000948>, principally engaged in electronic information business and manufacture of pharmaceuticals, has announced plans to raise no more than RMB 451 million via a private placement.

According to a statement, the Shenzhen listed company said that it will issue up to 55 million shares with a price of at least RMB 8.2 a share to several companies, including Nantian Group and Yunnan Industrial Investment Group.

Proceeds from the issue will be used to invest three projects, said the company.

Last year, Nantian Electronic saw its operation revenue reached RMB 2.66 billion, up 19.27% year on year and net profit attributed to shareholders increased 36.79% than a year earlier to RMB 94.31 million, sources reported.

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