According to Chinatungsten Online, on June 26, 2023, Haisheng Tungsten’s GEM IPO was accepted by the Shenzhen Stock Exchange. The prospectus shows that the number of shares to be publicly issued will not exceed 33,657,000 shares, accounting for not less than 25% of the total share capital after the issue, with a par value of 1.00 yuan per share. The company is expected to raise 400 million yuan, the proceeds will be used for the annual production capacity of 40 billion meters of tungsten wire for photovoltaic Phase I project, the annual production capacity of 30 million pieces of high-performance carbide CNC insert project and to supplement working capital.
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