Shengtak New Materials (300881.SZ) plans to issue convertible bonds to raise no more than 440 million yuan for the construction of an advanced high-nickel seamless pipe manufacturing project.

Shengtak New Materials (300881.SZ) disclosed a pre-plan to issue convertible corporate bonds to unspecified objects, with the total amount of funds raised from the issuance of convertible bonds not exceeding 440 million yuan (including principal). The net amount of funds raised after deducting issuance expenses will be used for the construction of the advanced high-nickel seamless tube manufacturing project.