EXPACE Raises $182 Million for Small Satellite Launchers

CASIC Rocket Technology Company, also known as EXPACE, reports that it has raised 1.2 billion yuan ($181.5 million) to develop its Kuaizhou family of satellite launchers, Xinhua reports.

CASIC Rocket Technology Company, based in the central city of Wuhan, said it signed fund raising agreements with eight investment institutions at the Shanghai United Assets and Equity Exchange Monday.

Zhang Di, vice president of China Sanjiang Space Group and chairman of CASIC Rocket Technology, said the original shareholders did not participate in the capital raising.

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