Fuxin Dare Automotive Parts Co., Ltd. announced that it expects to receive CNY 900 million in funding from Soochow Asset Management Co., Ltd., Jiangxi Dacheng Capital Management Co., Ltd., Guojin Dingxing Investment Co., Ltd.
March 30, 2020
Share
Fuxin Dare Automotive Parts Co., Ltd. (SZSE:300473) announced a private placement of not more than 34,000,000 shares for the gross proceeds of CNY 900,000,000 on March 31, 2020. The issuance price will be not lower than 80% of the median market price of the company’s shares as of 20 previous days of issuance date and company will issue shares representing a 30% of total issued share capital. The transaction will include participation from not more than 35 investors. The shares will have a lock up period of 6 months since issuance date. The transaction has been approved in 29th meeting of the 3rd directorate of the company. The transaction is subject to approval of shareholders of the company in its 2nd extraordinary general meeting of 2020 to be held on April 23, 2020 and the China Securities Regulatory Commission.
Fuxin Dare Automotive Parts Co., Ltd. is a China-based auto parts supplier. The Company's main products include sound insulation and noise reduction products, hydraulic steering pumps, electro-hydraulic steering pumps, hydraulic gear pumps, gearbox oil pumps, power steering tanks and automotive electronic products. The Company's products are used in steering, transmission, braking, automotive electronics and body assisted driving systems. The Company distributes its products in domestic market and to overseas markets.
Fuxin Dare Automotive Parts Co., Ltd. announced that it expects to receive CNY 900 million in funding from Soochow Asset Management Co., Ltd., Jiangxi Dacheng Capital Management Co., Ltd., Guojin Dingxing Investment Co., Ltd.