Grinm Advanced Materials (600206.SH) plans to raise funds not exceeding 320 million yuan through a private placement to its controlling shareholder, to be used for repaying special debts from government allocated funds.

Grinm Advanced Materials (600206.SH) disclosed a plan to issue A-shares to specific targets, with the issuing target being the company's controlling shareholder, China R&D. China R&D plans to subscribe to all the shares issued in cash. The number of shares to be issued is 44.6788 million, with an issue price of 7.16 yuan per share. The total amount of funds to be raised is expected to be no more than 320 million yuan (including this amount), and the net amount of funds raised after deducting issuance expenses is intended to be used to repay specific debts owed to the state allocation funds.