Gaona Aero Material Co., Ltd. announced that it expects to receive CNY 299.999992 million in funding from China Iron & Steel Research Institute Group Co., Ltd.
November 12, 2020
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Gaona Aero Material Co., Ltd. (SZSE:300034) announced a private placement of not more than 16,207,455 A shares at a price of CNY 18.51 per share for gross proceeds of not more than CNY 299,999,992 on November 13, 2020. The transaction will include participation from returning investor, China Iron & Steel Research Institute Group Co., Ltd. The transaction has been approved at the 35th meeting of the 5th board of directors and is still subject to approval of shareholders' in a meeting and China Securities Regulatory Commission. The shares are subject to a lock-up period of 18 months from the date of completion.
On December 1, 2020, the company announced that it has obtained the approval of national defense science, technology and Industry Bureau.
Gaona Aero Material Co.,Ltd. is a China-based company principally engaged in the development, design, manufacture and sale of high temperature alloy products. The Companyâs main products include cast alloy products, wrought alloy products, powder alloy products, special alloy products and high-purity and high-strength special alloy products, among others. The Companyâs products are mainly used in aviation and aerospace, large-scale power generation equipment, weapons, energy, petrochemical, pharmaceutical, automotive turbochargers, nuclear energy and ground gas turbines. The Company distributes its products in domestic market, with Northeast China and North China as its main markets.
Gaona Aero Material Co., Ltd. announced that it expects to receive CNY 299.999992 million in funding from China Iron & Steel Research Institute Group Co., Ltd.
GAONA AERO MATERIAL CO., LTD. 
