June 28 -- Heat exchanger producer Zhejiang Yinlun Machinery (002126) cut the minimum issue price of its private placement by 30 percent to 16.31 yuan per share, reports Shanghai Securities News, citing a company filing.

The company previously planned to issue 30 million shares at a minimum price of 34 yuan per share.

According to the new announcement, the share price should be no less than 90 percent of the average stock trading prices 20 days before price fixing date, with a bottom line of 16.31 yuan per share.

Source:CapitalVue