Anhui Fuhuang Steel Structure Co., Ltd. announced that it expects to receive CNY 655 million in funding from Anhui Fuhuang Construction Co., Ltd., and other investors
April 13, 2020
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Anhui Fuhuang Steel Structure Co., Ltd. (SZSE:002743) announced a private placement of not more than 100,897,764 shares for gross proceeds of not more than CNY 655,000,000 on April 14, 2020. The transaction will include participation from 35 specific investors including existing investor Anhui Fuhuang Construction Co., Ltd. The company has signed an agreement with Anhui Fuhuang Construction Co., Ltd. The company will issue shares at a price not lower than 80% of the median market price as of 20 previous days to issuance date. All shares subscribed by Anhui Fuhuang Construction Co., Ltd. will be subject to hold period of 18 months and all shares subscribed by other investors will be subject to a lock-up period of 6 months. The transaction has been approved by the 41st meeting of 5th directorate of the company, and is subject to approval of shareholders of the company and China Securities Regulatory Commission. The transaction is valid for 12 months from shareholders' approval.
Anhui Fuhuang Steel Structure Co., Ltd. is a China-based company which primarily engaged in the design, manufacture and installation of steel structure products. The Company designs, manufactures and installs steel structures for various types of buildings, bridges, power plants, stadiums, convention centers and airports. Its main products include heavy steel structures, heavy building steel structures, heavy special steel structures and light steel structures.
Anhui Fuhuang Steel Structure Co., Ltd. announced that it expects to receive CNY 655 million in funding from Anhui Fuhuang Construction Co., Ltd., and other investors