Han's Laser to raise over $840 million via private placement

Shenzhen, China - Han's Laser Technology Industry Group plans to raise a maximum of 5.228 billion yuan (~$842 million) to support its main business and the development of an industrial robot. The company will issue up to 175 million shares at no less than 30 yuan (~$4.8) per share via private placement.

The raised funds will be invested in four projects:

• 1.838 billion yuan (~$296 million) will go to a high-power semiconductor, special fiber, and fiber laser industrialized project, which will increase 832 million yuan (~$134 million) of net profits annually for the company.
• 1.615 billion yuan (~$260 million) will be pumped into a high-power laser cutting, welding, and robot automation equipment industrialized project, which will increase 424 million yuan ~($68 million) of net profits annually.
• 1 billion yuan (~$160 million) will be invested on a brittle material processing and measurement equipment industrialized project, which will increase 306 million yuan (~$50 million) of net profits annually.
• 7.74 billion yuan (~$1.2 billion) will be used to set up a key technology R&D center for the industrial robot.