Guangdong Orient Zirconic Ind Sci & Tech Co., Ltd. announced that it expects to receive CNY 1.1387109 billion in funding
August 29, 2018
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Guangdong Orient Zirconic Ind Sci & Tech Co., Ltd. (SZSE:002167) announced a private placement of up to 124,189,200 Class A shares for gross proceeds of up to CNY 1,138,710,900 on August 30, 2018. The lock up period of shares is 12 months since issuance date. The shares issuance is directed at not more than 10 specific investors. None of the participants can subscribe for more than 22,350,000 shares. The final issuance price will be decided in consultation with the lead underwriter after receiving approval from the China Securities Regulatory Commission. The transaction was approved at the 21st meeting of the 6th directorate of the company. The transaction is subject to approval from the company’s shareholders' meeting. The company will issue shares up to 20% of issued share capital. After issuance, total issued share capital should not exceed 745,135,200 shares.
Guangdong Orient Zirconic ind sci & tech Co., Ltd. is a China-based company principally engaged in the research, development, manufacture and distribution of zirconium and zirconium products. The Company's major products include zirconium oxychloride, zirconium dioxide, zirconium silicate, compound zirconium dioxide, structural ceramics, zirconium sponge, zircon sands and fused zirconium. Its products are applied in electronics, ceramics, glass, petrochemical, building material, medicine, textile, aerospace, machinery and commodity industries. The Company distributes its products within domestic market and to overseas markets.