- Wednesday 2010-05-26 15:47
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May 26 -- Germanium products manufacturer Yunnan Lincang Xinyuan Germanium Industrial (002428) is issuing 32 million shares at 30 yuan per share in its initial public offering (IPO) today in order to raise 960 million yuan, reports Shanghai Securities News.
Twenty percent or 6.40 million shares of the company's IPO will be issued offline.
Funds raised from its IPO will be used to construct an industrial chain for germanium crystals used in the production of efficient solar cells and a project to build germanium infrared lens with the remaining to be used as working capital.
The company’s proven reserves of germanium resources as of end 2009 totaled 689.55 tons, accounting for 19.7 percent of the national total.
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