Anshan Senyuan Road and Bridge Co., Ltd announced that it expects to receive CNY 174 million in funding
November 12, 2020
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Anshan Senyuan Road and Bridge Co., Ltd (SZSE:300210) announced a private placement of A shares for gross proceeds of not more than CNY 174,000,000 on November 13, 2020. The transaction will include participation from not more than 35 investors. The investors will subscribe for the shares issued by the company in cash. The issuance price shall not be less than 80% of the average trading price of the company’s stocks on the 20 trading days before the average stock trading price and does not exceed 30% of the company's total share capital before the issuance. The shares issued in the transaction are subject to hold period of six months. The transaction is approved by the 23rd meeting of the fifth board of directors of the Company and is subject to China Securities Regulatory Commission, Shenzhen Stock Exchange. The final number of shares to be issued shall be authorized by the general meeting of shareholders to the board of directors and the lead underwriter of the issuance according to the specific circumstances determined by negotiation. The validity period of the issuance resolution is from the date of review and approval of the first extraordinary general meeting of shareholders in 2020 to the date of the company's 2020 annual general meeting of shareholders.
ANSHAN SENYUAN ROAD & BRIDGE CO.,LTD is a China-based company principally engaged in the research, development, production and sales of road maintenance equipment. The Company's main products include in-situ thermal regeneration machines, thermal regeneration ultra-thin wear layer overlay machines, cross-moving cold regeneration machines, asphalt mixture mixing equipment and asphalt raw material plant mixing equipment, cement concrete production equipment, road daily regeneration and maintenance equipment and road deicing equipment. The Company distributes its products mainly in domestic market.