Fujian Haiyuan Composites Technology Co.,Ltd. announced that it expects to receive CNY 271.68 million in funding from SPIC Science and Technology Research Institute Co., Ltd. and another investor
March 22, 2021
Share
Fujian Haiyuan Composites Technology Co.,Ltd. (SZSE:002529) announced a private placement of not more than 48 million A shares at a issue price of CNY 5.66 for gross proceeds of CNY 271,680,000 on March 23, 2021. The transaction included participation from Gan Shengquan for 34 million shares for CNY 192,440,000 and SPIC Science and Technology Research Institute Co., Ltd for 14 million shares for CNY 79,240,000. The issuance price of this of stocks shall not be lower than 80% of the average stock trading price of the 20 trading days before the pricing base date. The transaction was approved in eighth meeting of the company's fifth board of directors. The transaction is subjected to the approval of shareholders and China Securities Regulatory Commission. The shares issued are subjected to 18 months hold period, from the date of completion of the issuance.
Jiangxi Haiyuan Composites Technology Co Ltd, formerly s Fujian Haiyuan Composite Technology Co Ltd, is a China-based company mainly engaged in the research and development (R&D), production and sales of composite lightweight products and new intelligent mechanical equipment. The Company's composite products include automobile bodies and parts and composite building templates. The Company's mechanical equipment products mainly include wall material forming equipment, refractory forming equipment, composite material forming equipment and building ceramic automatic hydraulic press. The company is also engaged in the R&D, design, production and sales of photovoltaic modules. The Company distributes its products in domestic market and to overseas markets.
Fujian Haiyuan Composites Technology Co.,Ltd. announced that it expects to receive CNY 271.68 million in funding from SPIC Science and Technology Research Institute Co., Ltd. and another investor