King-Strong New Material Technology Co., Ltd. announced that it has received CNY 255.099876 million in funding from a group of investors
May 06, 2020
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On May 7, 2020, King-Strong New Material Technology Co., Ltd. (SZSE:300629) closed the transaction. the company amended the terms of the transaction and issued 10,270,568 common shares at a price of CNY 17.74 per share for gross proceeds of CNY 182,199,876.32 and 729,000 convertible corporate bonds at a price of CNY 100 per share for gross proceeds of CNY 72,900,000. The company paid issuance expenses of CNY 3,716,579.14 in the transaction. All shares issued will be subject to a hold period of 6 months. The transaction included participation from AEGON-Industrial Fund Management Co., Ltd. for CNY 75,499,985.32, Soochow Asset Management Co., Ltd. for CNY 29,999,989.82, Foshan Xiaobang Equity Investment Partnership Enterprise (Limited Partnership) for CNY 17,999,997.44 and other investors including individual investors Guan Jianguo for CNY 9,999,984.78, Yuan Junhua for CNY 12,699,995.04, Zhao Qiujie for CNY 999,986.06, and Huang Jiaqiang for CNY 999,986.06.
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. 
