King-Strong New Material Technology Co., Ltd. announced that it expects to receive CNY 299.999995 million in funding from a group of investors
February 11, 2019
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King-Strong New Material Technology Co., Ltd. (SZSE:300629) announced a private placement for gross proceeds of not more than CNY 300,000,000 on February 12, 2019. The company will issue convertible corporate bonds and class A common shares in the transaction. The convertible corporate bonds are convertible into A shares of the company, having a face value of CNY 100. All the securities to be issued in the transaction are subject to a hold period of 12 months from closing of the transaction and cannot be transferred. The transaction has been approved in the 3rd directorate's 5th meeting. The company is subject to approval from company's shareholders and board of directors, China Securities Regulatory Commission, and the State Administration of Science, Technology and Industry for National defense.
Guangdong Kingstrong Technology Co Ltd is a company mainly engaged in research, development, production and sales of metal matrix composite materials and products. The company operates two segments. The Metal Products and Other Businesses segment provides metal matrix superhard material products, thermal spray materials, wave absorbing materials, optical materials and products, as well as carbon fiber materials products. The products are used in building ceramics and military industry. The Radio Frequency (RF) Microwave segment operates its businesses through its subsidiary, and engaged in the design, development and production of RF microwave components, equipment and systems. The Company sells its products to both domestic and international markets, including Vietnam and India.
GUANGDONG KINGSTRONG TECHNOLOGY CO., LTD. 
