Advanced Fiber Resources, Ltd. announced that it expects to receive CNY 710 million in funding from Zhuhai Huafa Entity Industrial Investment Holdings Co., Ltd.
March 18, 2020
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Advanced Fiber Resources (Zhuhai), Ltd. (SZSE:300620) announced that a private placement of not more than 27,101,100 A shares for gross proceeds of not more than CNY 710,000,000 on March 19, 2020. The transaction will include participation from not more than 35 investors. All the securities issued in the transaction shall not be transferred within six months from the date of completion of the issuance. The transaction has been approved at the 20th meeting of the 2nd directorate and 15th meeting of the 2nd supervisory board of the company. The transaction has been subject to approval from the company's shareholders in its 1st extraordinary general meeting of 2020 to be held on April 7, 2020 and from the China Securities Regulatory Commission.
Advanced Fiber Resources Zhuhai Ltd is a company engaged in research, development, production and sales of optical fiber devices. The Company's main products include fiber laser devices and optical communication devices, such as isolators, beam combiners and tunable filters. The products are used in fiber lasers, optical communications, unmanned driving, petrochemicals, cloud computing and other areas.
Advanced Fiber Resources, Ltd. announced that it expects to receive CNY 710 million in funding from Zhuhai Huafa Entity Industrial Investment Holdings Co., Ltd.
ADVANCED FIBER RESOURCES (ZHUHAI), LTD. 
