Nanjing Quanxin Cable Technology Co., Ltd. announced that it expects to receive CNY 320 million in funding
December 24, 2020
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Nanjing Quanxin Cable Technology Co., Ltd. announced a private placement of not more than 87,320,776 A shares for gross proceeds of not more than CNY 320,000,000 on December 25, 2020. The transaction will include participation from not more than 35 specific subscribers. The price of shares will not less than 80% of the average price of the company’s stock trading on the twenty trading days prior to the first day of the issuance period. The transaction has been approved in the 14th meeting of the fifth board of directors of the company and is still subject to approval of the National Defense Science and Industry Bureau, shareholders of the company in a meeting, Shenzhen Stock Exchange, and China Securities Regulatory Commission. The shares are subject to a hold period of 6 months from the date of issuance.
On February 22, 2021, the company announced that it has received the acceptance of the application documents by the Shenzhen Stock Exchange.
NANJING QUANXIN CABLE TECHNOLOGY CO., LTD. is a China-based company principally engaged in the research and development, production and sales of anti-defense military optical cables and components, optoelectronic components, FC optical fiber bus switching systems, optoelectronic integrated equipments and heat transmission products. The Company's main products include fluorine plastic cables, polyolefin cables, other insulation cables and cable assemblies. The Company's products are mainly used in the five military fields of aerospace, aviation, shipbuilding, military electronics and weapons. In addition, The Company is also engaged in the design, assembly and production of water treatment equipments through its subsidiary. The Company mainly operates its business in the domestic market.