Coship raises funds for STB production line

Chinese digital set-top box manufacturer Coship Electronics has received conditional approval from the China Securities Regulatory Commission (CSRC) for a private placement, the value of which Coship estimates will not exceed RMB 430 million (E45m). Approximately 77 per cent of the funds are be used to build capacity for annual production of 2 million HD digital STBs, 4 million sets of DBS receiver equipment, and 2 million bi-directional interactive digital STBs. Coship's planned construction line will be used exclusively to produce middle and high-end products.