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On December 29, 2022, Liuguo Chemical issued an announcement that the company decided to terminate the 2021 fixed capital raising matter, and launched the 2022 non-public offering of A-shares, intending to issue 156 million shares to no more than 35 objects, and raise no more than 800 million yuan for battery-grade refined phosphoric acid projects
.
The new non-public offering plan targets no more than 35 specific investors, including the company's controlling shareholder Tonghua Group, the number of shares issued does not exceed 156 million, and the total amount of funds raised does not exceed 800 million yuan
.
Among them, Tonghua Group intends to subscribe for no more than 70,452,300 shares with a lock-up period of 18 months, and the shares subscribed by the remaining issuance targets are subscribed for a lock-up period of 6 months
.
Up to now, Tonghua Group directly holds 133 million shares of the company, accounting for 25.
49% of the company's total share capital, and the shareholding ratio will not exceed 30%
after the completion of this offering.
All funds raised will be used for the 280,000 tons/year battery-grade refined phosphoric acid project
.
The project landed in Dangyang City, Hubei Province, with a total investment of about 1.
194 billion yuan, a construction period of 24 months, and will form an annual production capacity
of 280,000 tons of battery-grade refined phosphoric acid and 50,000 tons of high-grade flame retardants after completion.
It is estimated that the after-tax financial internal rate of return of the project is 21.
15%, and the after-tax investment payback period is 6.
35 years
.
According to reports, the refined phosphoric acid produced by the project, as a precursor to the production of iron phosphate, is the core key resource
to help the company enter the new energy and new materials industry.
Liuguo Chemical said that through the implementation of the project, it can rapidly expand the lithium iron phosphate cathode material precursor iron phosphate industry, break the current business pattern based on basic fertilizers, tilt phosphorus resources to the in-depth development of high-end phosphating products, cultivate new profit growth points, and achieve sustainable business development
.
