PVTIME – On 4 March 2023, Ningbo Deye Technology Co., Ltd. (605117.SH), a large-scale manufacturing technology enterprise integrating R&D, design, production, sales and service, announced that its proposal to issue A-shares on a non-public basis has been approved by the Shanghai Stock Exchange.
The company intends to raise a total amount of not more than 3.55 billion yuan for inverter R&D project after deducting the issuance fees.
According to the announcement, 1.998 billion yuan of these funds will be invested in inverter production lines to achieve an annual output of 25.5GW of string inverters and storage inverters, 542 million yuan will be invested in inverter production lines to produce 3GW of micro inverters per year, and 510 million yuan will be invested in an inverter R&D centre. The remaining 500 million yuan of the funds raised will be used to supplement working capital.
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