MGL New Materials plans to raise no more than 980 million yuan through a private placement, with the controlling shareholder participating in the subscription of 200 million yuan

MGL New Materials plans to raise no more than 980 million yuan by issuing A-shares to specific investors, among which the controlling shareholder Hengtong New Energy will participate in the subscription of 200 million yuan. The issuance targets include no more than 35 specific investors, and the raised funds will be used for a project to produce 30,000 tons of lithium-ion battery cathode materials annually and to supplement working capital