News Column

Siasun Robot Plans to Issue CNY3bn Additional Shares

August 21, 2014

SHENYANG, August 21, SinoCast -- Siasun Robot and Automation (SZSE: 300024) plans to raise about CNY 3 billion via issuing not more than 120 million additional shares. Of the proceeds, CNY 1.02 billion, CNY 520 million, CNY 375 million, CNY 295 million and CNY 790 million each will be used to invest in an industrial robot project, a special robot project, a high-end equipment and 3D printing project, and a digital plant project as well as replenish working capital.

Global sales volume of industrial robots hit 168,000 units in 2013. China contributed to 20% of the total, becoming the biggest market of industrial robots globally.

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Source: Sinocast Machinery & Industrial Goods Beat (China)

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