Colibri Tech seeks $15.5m in private share placement

Shenzhen Colibri Technologies (SZSE:002957) announced its intention to issue 9,220,296 shares via a simplified procedure to specific investors, priced at 12.12 RMB per share, targeting a total fundraising of 111.75 million RMB (approximately $15.5 million USD). The placement aims to finance the "New Energy Battery Intelligent Manufacturing Equipment Industrial Park" project, with funds earmarked specifically for land purchase and facility construction. Investors in this private placement include asset managers and investment firms, as well as individual investors. The offering is subject to approval from the Shenzhen Stock Exchange and registration with the China Securities Regulatory Commission (CSRC). Proceeds from the offering are not to exceed 20% of the company's net asset value. The company notes potential risks associated with the industry and market volatility.