Tung Ho Steel Enterprise Corporation announced that it expects to receive TWD 300.36036 million in funding from Feng Hsin Steel Co.,Ltd
February 22, 2021
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Tung Ho Steel Enterprise Corporation (TSEC:2006) announced a private placement of 7,674,000 common shares for TWD 39.14 per share for gross proceeds of TWD 300,323,126 on February 23, 2021. The transaction will include participation from new investor Feng Hsin Steel Co.,Ltd (TSEC:2015). The investor will hold 0.75% stake in the company after completion.
Feng Hsin Steel Co Ltd is a Taiwan-based company principally engaged in the manufacture, processing and trading of steel products. The products of the Company include angle steel, channel steel, steel flats, steel bars, special steel, bar steel, steel rods, formed steel and other steel products, among others. Its formed steel products are applied in construction industry, factory buildings, shipbuilding, transmission and distribution towers, machinery manufacturing, automobile maintenance and lifting equipment, transportation, metal products industry and steel structure, among others. The reinforcement bars are mainly used in construction, civil engineering, structure, foundation and others. Bar steel products are mainly used in screw nuts, polished bars, hand tools, auto parts and others. The Company mainly sells its products in Taiwan and other regions.
FENG HSIN STEEL CO., LTD. 
