Guangdong SACA Precision Manufacturing Co., Ltd. announced that it expects to receive CNY 981.7044 million in funding
November 03, 2020
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Guangdong SACA Precision Manufacturing Co., Ltd. (SZSE:300464) announced a private placement of not more than 105,936,652 shares for gross proceeds of not more than CNY 981,704,400 on November 4, 2020. The transaction will include participation from not more than 35 investors. The issue price will not be less than 80% of the average price in the 20 trading days before the pricing reference date. The transaction has been approved in the 10th meeting of the company's 4th directorate, 8th meeting of the 4th supervisory board and is still subject to the approval of the shareholders in a meeting, Shenzhen Stock Exchange, and China Securities Regulatory Commission. The shares cannot be transferred within 6 months from the issuance closing date.
Guangdong SACA Precision Manufacturing Co., Ltd. is a China-based company engaged in the research and development, design, manufacture and distribution of precision metal fittings. The Company's products include slides, hinges and other precision metal fittings. Slides include heavy-duty slides, silent slides, hidden slides and buffered slides, among others. Hinges include stainless steel hinges, American hinges and buffered hinges, among others. Its products are widely used in furniture, home appliances, industry, financial, automotive and other fields.