Fuman Micro announced that its board of directors has approved a proposal to issue H shares and list on the Main Board of the Hong Kong Stock Exchange. The number of shares to be issued will not exceed 15 percent of the total share capital after the issuance, and the overall coordinator will be granted an over-allotment option of up to 15 percent of the aforementioned issuance amount. The proceeds will be used to expand production capacity, increase research and development investment, and supplement working capital. The proposal is still subject to shareholder approval.
Shenzhen Fine Made Electronics Group Co LtdCompany plans H-share listing on HKEX to raise funds for expansion and R&D.