Mianyang Fulin Precision Machining Co., Ltd. announced that it expects to receive CNY 1.5 billion in funding from Sichuan Fulin Industrial Group Co., Ltd., and other investors
June 16, 2021
Share
Mianyang Fulin Precision Machining Co., Ltd. announced that it has entered into share subscription agreement for private placement of 221,709,674 A shares for gross proceeds of CNY 1,500,000,000 on June 17, 2021. The issue price is not less than 80% of the average price in the 20 trading days before the pricing reference date. The transaction will include participation from not more than 35 investors including returning investor Sichuan Fulin Industrial Group Co., Ltd, who will subscribe to not less than 10% of the issuance. If in the 12 months after the closing of the issuance Sichuan Fulin Industrial Group Co., Ltd. increases its holdings by more than 2% stake, the shares Sichuan Fulin Industrial Group Co., Ltd. subscribes to cannot be transferred within 36 months from the issuance closing date. If in the 12 months after the closing of the issuance Sichuan Fulin Industrial Group Co., Ltd. increases its holdings by no more than 2% stake, the shares Sichuan Fulin Industrial Group Co., Ltd. subscribes to cannot be transferred within 18 months from the issuance closing date. The shares the other investors subscribe to cannot be transferred within 6 months from the issuance closing date. The transaction has been approved in the 11th meeting of the company's 4th directorate, and is subject to the approvals of the Shareholders, the Shenzhen Stock Exchange, and the China Securities Regulatory Commission.
Fulin Precision Co Ltd, formerly Mianyang Fulin Precision Co Ltd, is a China-based company mainly engaged in the research, development, production and sales of auto parts and new energy lithium battery cathode materials. The auto parts products include traditional auto engine parts and intelligent electric control products for new energy vehicles, such as precision hydraulic parts, electromagnetic drive precision parts, electronic drive series products, thermal management and power system, vehicle reducer assembly, high Precision gear shaft and housing. The new energy lithium battery cathode material products are mainly lithium iron phosphate cathode materials, which are used in the fields of new energy vehicle power batteries and energy storage.
Mianyang Fulin Precision Machining Co., Ltd. announced that it expects to receive CNY 1.5 billion in funding from Sichuan Fulin Industrial Group Co., Ltd., and other investors