Shenzhen Geoway Co., Ltd. announced that it expects to receive CNY 200.1675 million in funding from Hebei Hongcheng Holdings Industrial Co., Ltd., and another investor
April 26, 2020
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Shenzhen Geoway Co., Ltd. announced a private placement of not more than 160,134,000 A shares at a price of CNY 1.25 per share for gross proceeds of not more than CNY 200,167,500 on April 27, 2020. The company entered into subscription agreement between investors including Henan Hongcheng Holding Industrial Co., Ltd for 138,782,800 shares for CNY 173,478,500 and Bao Li for Bao Li for CNY 26,689,000. The securities are subject to a hold period of 24 months and 18 months for both the investors respectively. The transaction has been approved by the board of directors at the 24th meeting of the 7th directorate and 19th meeting of the supervisory board. The transaction is subject to approval of the company's general meeting of shareholders and the approval of the China Securities Regulatory Commission.
Hubei Geoway Investment Co Ltd, formerly Shenzhen Geoway Co Ltd, is a China-based company mainly engaged in investment. Through its wholly-owned subsidiary, the Company is mainly engaged in the procurement and sales of raw materials related to mobile phones; the Company engages in after-sales service of camera modules through its holding subsidiary; the Company through its wholly-owned grandson company is engaged in marketing services and public relations, providing professional marketing activities and communications for various industries, and providing consulting services to customers with planning and execution capabilities. The Company distributes its products and services within the domestic market.
Shenzhen Geoway Co., Ltd. announced that it expects to receive CNY 200.1675 million in funding from Hebei Hongcheng Holdings Industrial Co., Ltd., and another investor