MeiG Smart Technology Co., Ltd announced that it expects to receive CNY 603.5944 million in funding
August 12, 2021
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MeiG Smart Technology Co., Ltd. announced a private placement to issue not more than 55,347,000 A shares for gross proceeds of not more than CNY 603,594,400 on August 13, 2021. The transaction will participation from not more than 35 investors. The pricing base date is the first day of the issuance period. The issue price is not less than 80% of the average price of the company's stock during the 20 trading days prior to the pricing base date. The shares issued in the transaction is subject to a lock up period of 6 months from the closing of the transaction for other investors. The transaction has been approved by the board of directors of the company at the 3rd meeting and is subject to approval from shareholders of the company and the China Securities Regulatory Commission.
On October 27, 2021, the company announced administrative license application related to issuance of shares has been accepted by China Securities Regulatory Commission.
MeiG Smart Technology Co,. Ltd, formerly Shenzhen MeiG Smart Technology Co., Ltd., is a China-based company mainly engaged in the research and development, manufacturing and sales of the fourth generation of mobile phone mobile communication technology standards (4G) applications and precision components. The Company develops and sells 4G wireless communication modules and 4G smart terminals and provides customers with research and development services based on 4G communication technology. The Company also engaged in the research, production and sales of precision structural parts and precision molds for various communication terminal products represented by smart phones. The Company's products include 4G communication modules and smart terminals, mobile phone precision structural parts, smart phones, driving recorders, wireless routers, etc. The Company operates its businesses within the domestic market and to overseas markets.