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Article: LYRUN MATERIAL TO ISSUE 45MN MORE A-SHARES

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AsiaInfo Services
Article date:
May 16, 2007
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AsiaInfo Services
05-16-2007
Lyrun Material to Issue 45mn More A-shares

HUNAN, May 16, 2007 (SinoCast via COMTEX) -- Changsha Lyrun Material Co., Ltd. (SHSE: 600478) is set to additionally issue not more than 45 million A-shares to its controlling shareholder Hunan Corun Hi-tech Co., Ltd. and other less than 10 institutional investors, disclosed its announcement on May 15.

The controlling shareholder is allowed to subscribe for the shares with its battery assets but is required to subscribe for no less than 15 million shares or no less than 50 of the totally issued. Other institutional investors are required to subscribe for the rest shares in cash.

The listed company will use the proceeds ...

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