China Nuclear Titanium White plans to raise an additional 1.6 billion yuan.

 On February 24, China National Titanium White announced that the Company intends to issue no more than 461 million shares to controlling shareholder and controlling shareholder Wang Zelong in private, with an issue price of 3.47 yuan per share, raising a total of not more than 1.6 billion yuan, and plans to invest in 200,000 tons/year titanium dioxide after-treatment projects and supplementary working capital.
, the total investment amount of 200,000 tons/year titanium dioxide after-treatment project is 640 million yuan, and the funds raised by this issue are proposed to be invested 230 million yuan, with the rest funded by the company's self-financing. After the investment project is put into operation, the company will form a crude production capacity of 330,000 tons / year, after processing the scale of 400,000 tons / year, is expected to achieve annual sales revenue of about 3.166 billion yuan, after-tax profit of 176 million yuan .
same time, China Nuclear Titanium intends to use 1.37 billion yuan of the funds raised from this non-public offering of shares to supplement working capital to meet the growing demand for working capital in the company's business.
China Nuclear Titanium White said that with the company's 100,000 tons / year of redstone-type titanium dioxide resources integrated utilization project in 2019, as well as the fund-raising project 200,000 tons / year titanium dioxide after-treatment project in the future production and release of production capacity, the company's business scale will be further expanded, resulting in a large demand for liquidity. The company intends to use some of the funds raised to supplement working capital projects, which will effectively meet the new working capital needs brought about by the expansion of the company's operating scale, and will be conducive to the sustainable development of the company's business.
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