The hottest Minfeng special paper plans to raise 3

Minfeng special paper plans to raise 300million yuan through private placement

Minfeng special paper officially launched a private placement plan a few days ago. According to the plan, the company will issue 40million to 60million shares to no more than 10 specific investors such as the fund company to promote the downward movement of the force measuring piston, and raise funds of no more than 300million yuan for the technological transformation of No. 20 machine to produce coke reducing and harm reducing cigarette paper project, the technological transformation project of fluidized bed boiler, the phase I project of special paper R & D Center (cigarette paper) transformation project and repayment of bank loans. Specifically, 26million yuan for the technological transformation of No. 20 machine to produce coke reducing and harm reducing cigarette paper project, 31million yuan for the technological transformation of fluidized bed four week vibration free boiler project, 24.2 million yuan for the first phase of the special paper R & D Center (cigarette paper) transformation project, and 218.8 million yuan for the repayment of bank loans. The price of this additional issue is no less than 5.54 yuan/share, all of which are subscribed in cash

Minfeng special paper said that if all or part of the projects must be invested in advance before the funds raised in this offering are in place, the company will invest in advance with self raised funds. After the funds raised in this offering are in place, the company will replace the early self raised funds with raised funds

the company said that the construction period of the technical transformation project of machine 20 is one year, the production capacity of cigarette paper for reducing coke and harm after reaching the production capacity is 12000 tons, the annual sales revenue is about 205million yuan, and the annual after tax profit is about 38.33 million yuan. The construction period of the fluidized bed boiler technical transformation project is 1.5 years, and it is estimated that the production cost can be reduced by about 7.75 million yuan/year. The construction cycle of special paper R & D project is 1.5 years. After reaching the production capacity, it will effectively improve the R & D capacity of the company's products and accelerate the R & D speed