GCI Science & Technology Co., Ltd. announced that it expects to receive CNY 1.6 billion in funding from China Electronics Technology Investment Holdings Limited and other investors
December 02, 2019
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GCI Science & Technology Co., Ltd. (SZSE:002544) announced private placement of not more than 114,321,400 A shares for gross proceeds of not more than CNY 1,600,000,000 on December 3, 2019. The transaction will include participation from existing investor China Electronics Technology Investment Holdings Limited for 10% of the issuance size and other investors. The stake of China Electronics Technology Investment Holdings Limited will increase from 0.92% to 2.44% upon closing. The number of shares to be issued does not exceed 20% of the company's total share capital before the issue. The transaction has been approved by the National Defense Technology Industry Bureau and 11th meeting of 5th directorate of the company. The transaction is subject to approval of China Electronics Technology Group Corporation, shareholders' of the company at its 3rd extraordinary general meeting of 2019 to be held on December 26, 2019, and the China Securities Regulatory Commission.
Cetc Potevio Science&Technology Co Ltd is a China-based company principally engaged in the information communication business. The Company operates business in three fields. In the communication via public network field, the Company is engaged in providing services such as communication network consulting, planning, designing, factoring, and construction contracting. In the special network communication & intelligent application field, the Company is engaged in providing special network communication products and solutions for industries such as urban rail transit system, security, public police, emergency management, and electric power, among others. In the intelligent manufacturing field, the Company is engaged in providing special printed circuit board and constant-temperature time frequency instruments for customers in the communication and other industries.
GCI Science & Technology Co., Ltd. announced that it expects to receive CNY 1.6 billion in funding from China Electronics Technology Investment Holdings Limited and other investors