Lepu Medical To inject 99M Yuan Into Subsidiary

Lepu Medical Technology (Beijing) (300003), a maker of coronary artery intervention equipment, plans to inject 99 million yuan of the excess funds raised from its initial public offering into subsidiary Shanghai Shape Memory Alloy Material in order to expand production capacity, reports yicai.com, citing a company filing.

Upon the completion of the transaction, the target company’s registered capital will be boosted to 100 million yuan, and the capital will be mainly used to expand the production capacity of occlusion devices.

The capacity expansion will result in an additional 40,000 units produced per year, and the breakeven period of the investment is 4.31 years. Fixed-asset investment will hit 93.5 million yuan.

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