Dongshan Precision to raise $195m in share offering

Suzhou Dongshan Precision Manufacturing (SZSE:002384) plans to raise approximately $195 million (¥1.4 billion) through a private placement of A shares, according to a filing with the Shenzhen Stock Exchange. The offering, priced at ¥11.24 per share, is targeted at existing shareholders Yuan Yonggang and Yuan Yongfeng and is underwritten by Haitong Securities. Yuan Yonggang and Yuan Yongfeng have pledged to purchase a share of 99,928,825 and 24,982,206 shares respectively.