Kersen Technology to Raise 1.1 Billion Yuan for Liquid Cooling and Robotics

Kersen Technology (SH603626), a Chinese precision manufacturing company, revealed a plan after market close on September 29 to issue A-shares to no more than 35 specific investors, raising up to 1.102 billion yuan. The proceeds will fund the acquisition of a 53.26% stake in Huizhou Zhangu Technology Co., Ltd. and the construction of a project for precision structural parts and modules for robots and intelligent terminals.

The acquisition targets Huizhou Zhangu's expertise in liquid cooling technology, allowing Kersen to enter the liquid cooling sector. Meanwhile, the robot project aligns with the growing trend in smart manufacturing. The company stated that after deducting issuance fees, the funds will be used for these purposes.

Kersen's stock has been a standout performer, with 13 limit-up days this year. Its latest price is 23.91 yuan, giving it a market cap of 13.267 billion yuan. The private placement could further boost its growth, making it a closely watched stock.