Hunan Oil Pump Co., Ltd. announced that it expects to receive CNY 367.47 million in funding
April 08, 2020
Share
Hunan Oil Pump Co., Ltd. (SHSE:603319) announced private placement of not more than 20,980,310 A shares for gross proceeds of not more than CNY 367,470,000 on April 9, 2020. The transaction will include participation from not more than 35 investors. The issue price will be not less than 80% of the average price in the 20 trading days before the pricing reference date.
The shares issued will be subject to hold period of 6 months. The transaction has been approved at the 18th meeting of company's 9th directorate, 13th meeting of the 9th supervisory board, and is subject to the approvals of the shareholders of the company and the China Securities Regulatory Commission.
Hunan Oil Pump Co Ltd is a China-based company principally engaged in the research and development, manufacturing and sales of engine pump products. The Company operates five segments, Diesel Engine Oil Pump segment, Gasoline Engine Oil Pump segment, Electric Motor segment, Transmission Pump segment, and New Energy Vehicle Parts segment. The Company's products mainly include engine pump products, transmission oil pumps, electronic pump products, motor products and intelligent driving execution layer control systems. The Company's products are used in fuel vehicles, new energy vehicles, generator sets, ship power and engineering machinery and other fields. Through its subsidiaries, the Company also provides vacuum pumps, automated manufacturing equipment and related information and technical services, and is engaged in the research, development and production of gears, reducers and aluminum die castings.
HUNAN OIL PUMP CO., LTD. 
