Nanfang Space to raise $482m through new shares
Updated: 2011-03-17 15:05
China's Nanfang Space Navigation plans to raise 3.17 billion yuan ($482.4 million) through the issue of new shares, it said on Thursday.
The money raised will be used to expand its production capacity, increase its research and development capabilities and to boost its equity holding in a Jiangsu-based new energy company, Nanfang said in a statement.
Nanfang manufactures aero-engine control system products. It also manufactures and sells motorcycles and motorcycles engines, civil aircraft components and automobile components.
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