Jiangsu Tongda Power Technology Co.,Ltd. announced that it expects to receive CNY 439.3311 million in funding from Tianjin Xinda Ruiming Enterprise Management Advisory Center (Limited Partnership)
May 16, 2021
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Jiangsu Tongda Power Technology Co., Ltd. signed the subscription agreement to issue not more than 49,530,000 A shares at the price of CNY 8.87 per share for not more than CNY 439,331,100 on May 17, 2021. The transaction will include participation from existing investor Tianjin Xinda Ruiming Enterprise Management Advisory Center (Limited Partnership) which will increase its stake from 30.27% stake to 46.36% stake comprising 99,509,0000 shares. The shares subscribed must not be transferred within 36 months after the issuance completion date. The 4th session of the company’s 5th directorate approved the transaction. The transaction is still subject to company’s shareholders’ meeting and China Securities Regulatory Commission.
Jiangsu Tongda Power Technology Co.,Ltd. is a China-based company principally engaged in the research, development, manufacture and sale of small and medium-sized motors, generators and fixed-rotor iron cores, as well as the provision of related services. The Company's small and medium-sized motor used in machinery, steel, electricity, chemicals, cement, paper, metallurgy, petrochemical industries, as well as infrastructure projects. The Company's small and medium-sized generators are mainly used in wind power generators, fuel generators, hydroelectric generators, mobile power generators and other power generation equipment. The Company distributes its products mainly in domestic market, with East China as its main market.
Jiangsu Tongda Power Technology Co.,Ltd. announced that it expects to receive CNY 439.3311 million in funding from Tianjin Xinda Ruiming Enterprise Management Advisory Center (Limited Partnership)
JIANGSU TONGDA POWER TECHNOLOGY CO.,LTD. 
