Ningbo Huaxiang Electronic Co., Ltd. announced that it expects to receive CNY 2.04 billion in funding from a group of investors
December 08, 2016
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Ningbo Huaxiang Electronic Co., Ltd. (SZSE:002048) announced that it has entered into a conditional share purchase agreement for private placement of 96,180,164 common shares at a price of CNY 21.25 per share for gross proceeds of CNY 2,043,828,485 on December 9, 2016. The transaction will include participation from Lombarda China Fund Management Co., Ltd. for 13,552,941 shares for gross proceeds of CNY 287,999,996.25, Harvest Fund Management Co., Ltd for 13,552,941 shares for gross proceeds of CNY 287,999,996.25, Caitong Fund Management Co., Ltd. for 13,317,647 shares for gross proceeds of CNY 282,999,998.75, Luzheng Venture Capital Co., Ltd. for 11,811,764 shares for gross proceeds of CNY 250,999,985, and other investors including Wang Jiwen which will invest for 11,811,764 shares. The security issued is subject to a 12 month hold period. The transaction has been approved at the 30th session of the 5th directorate.
Ningbo Huaxiang Electronic Co., Ltd. is a China-based company, principally engaged in the design, development, manufacture and distribution of automobile components. The Company's main products consist of interior and exterior trims, including instrument panels, center channel assemblies, front and rear windshields, spoilers, roofs, bellows; automotive chassis accessories; air-conditioning accessories; automotive engine accessories; automotive electrical and electronic accessories; metal stampings and others. The main supporting models of its products include BMW 3, 5 and X series; Mercedes-Benz C-Class and E Class series, and Tiguan, New Passat, New Sunny, Audi Q5, Audi A6L, Sagitar, Golf A7, Skoda, Roewe, Crown, Reiz, Corolla, Teana and others. The Company distributes its products within domestic market and to overseas markets.
NINGBO HUAXIANG ELECTRONIC CO., LTD. 
