Pearl River Holdings: It is planning to raise approximately RMB 738 million through a private placement to supplement working capital and repay debts.
Pearl River Shares Announcement: The company plans to issue A shares to specific objects, with the subscriber being Guangzhou Pearl River Industrial Group Co., Ltd., the company's controlling shareholder. The subscription will be made in cash. The issue price for this issuance to specific objects is 2.92 yuan/share, not less than 80% of the average trading price of the stock during the 20 trading days before the pricing reference date. The number of shares issued to specific objects will not exceed 252,613,560 shares, not exceeding 30% of the total share capital before this issuance, and the final issuance amount will be subject to the number of shares registered by the China Securities Regulatory Commission. The total amount of funds raised from the issuance of shares to specific objects will not exceed 737.6316 million yuan, and after deducting the related issuance expenses, all funds will be used for supplementing working capital and repaying debts.
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