DeHua TB New Decoration Material Co.,Ltd announced that it expects to receive CNY 499.999997 million in funding from Dehua Group Holding Co., Ltd.
November 21, 2021
Share
DeHua TB New Decoration Material Co.,Ltd announced a private placement of does not exceed 71,428,571 A shares at a price of CNY 7 per share for gross proceeds of is not more than CNY 499,999,997 on November 22, 2021. The transaction will include participation from returning investor Dehua Group Holding Co., Ltd. The transaction has been approved by board of directors of 12th meeting of the seventh board of directors of the company. The transaction is still needs to be reviewed and approved by the company's shareholders' meeting and can be implemented after approval by the China Securities Regulatory Commission. The shares subscribed by the issuer shall not be transferred within 36 months from the end of the transaction. The validity period of the resolution of this non-public issuance of stocks to specific objects is valid for this proposal to be submitted to the company's general meeting of shareholders within 12 months from the date of review and approval.
On July 4, 2022, the company announced that the application for the transaction has been accepted by the China Securities Regulatory Commission and the company has received China Securities Regulatory Commission Administrative License Application Acceptance Form and the transaction is still subject to the approval of China Securities Regulatory Commission.
DEHUA TB NEW DECORATION MATERIAL CO.,LTD is a China-based company principally engaged in the research, development, manufacture and distribution of decoration materials. The Company mainly operates through three business segments. Decoration Material segment is mainly engaged in the production and sale decorative plates, paint, wall coatings, wallpaper, decoration hardware, veneer and adhesive products. Home Furnishing segment is mainly engaged in the production and sale of customized household products, such as floor boards, wardrobes, wooden doors and integrated wall panels. Internet Business segment is mainly engaged in electronic commerce agency operation, as well as Internet value-added services and electronic commerce business. The Company is also involved in engineered wood business, adhesive business and exporting business.