Jilin Jinguan Electric Co., Ltd. announced that it expects to receive CNY 1 billion in funding from Luoyang Gudu Asset Management Co., Ltd.
September 29, 2020
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Jilin Jinguan Electric Co., Ltd. (SZSE:300510) announced a private placement for maximum of 264,865,495 common shares for gross proceeds of up to CNY 1,000,000,000 on September 30, 2020. The transaction includes participation from 35 investors including returning investor Luoyang Gudu Asset Management Co., Ltd. with not less than CNY 100 million to participate in the transaction. The transaction is subject to approval of shareholders at general meeting, Shenzhen Stock Exchange approval and China Securities Regulatory Commission. The shares subscribed by the controlling shareholder shall not be transferred within 18 months and subscribed by other specific objects shall not be transferred within 6 months from the date of the end of this issue.
JILIN JINGUAN ELECTRIC CO., Ltd is a China-based company engaged in the research and development, manufacture and sales of intelligent electrical switchgear equipment and supporting components. The Company's major products include cubicle-type gas insulated switchgear (C-GIS) intelligent ring main units, box-type transformer substations and low-voltage switchgear cabinets. Its other products include intelligent high-voltage switchgears, the supporting vacuum circuit breakers and solid insulated ring main units, among others.