Jolywood Sunwatt Co., Ltd. announced that it expects to receive CNY 2.5 billion in funding
June 07, 2021
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Jolywood (Suzhou) Sunwatt Co., Ltd. announced a private placement of not more than 326,888,207 A shares for gross proceeds of not more than CNY 2,500,000,000 on June 8, 2021. The transaction will include participation from not more than 35 investors. The shares cannot be transferred within six months from the issuance closing date. The issue price will be not less than 80% of the average price in the 20 trading days before the pricing reference date. The transaction has been approved at the 13th meeting of the company's 4th directorate and is still subject to approval from its shareholders, the Shenzhen Stock Exchange, and the China Securities Regulatory Commission.
Jolywood (Suzhou) Sunwatt Co.,Ltd. is a China-based company principally engaged in the solar photovoltaic business. The Company operates its business mainly through three segments. The Backsheet segment mainly provides a range of photovoltaic back film products, such as patented fluorocarbon inner coating (FFC) structure, Tedlar Polyester Tedlar (TPT) structure, Tedlar Fluoropolymer Bachsheet (TFB) structure, K-class Fluoropolymer Bachsheet (KFB) structure and primer/polyethylene terephthalate (MLP) structure. The High-efficiency Battery segment mainly provides N-type single crystal bifacial solar cells. The Photovoltaic Application System segment mainly provides distributed photovoltaic power plants, agricultural light complementary power plants and household photovoltaic projects. The Company distributes its products in domestic market and to overseas markets.