Nuode Investment Co.,Ltd announced that it expects to receive CNY 1.42 billion in funding from Shenzhen Bangmin Venture Investment Co., Ltd. and other investors
May 07, 2020
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Nuode Investment Co.,Ltd (SHSE:600110) announced a private placement of not more than 345,093,629 shares for gross proceeds of not more than CNY 1,420,000,000 on May 8, 2020. The issue price of shares will not be lower than 80% of the median market price of the Company´s shares as of 20 previous days to issuance date. The transaction will include participation from not more than 35 investors including existing investor Shenzhen Bangmin Venture Investment Co., Ltd. The company has signed subscription agreement with the investors. The shares issued to Shenzhen Bangmin Venture Investment Co., Ltd. will be subject to hold period of 18 months and to other shareholders will be subject to hold period of 6 months from the date of issuance. The transaction has been approved at the 26th meeting of 9th board of directors of the company and is subject to approval from shareholders of the company at the 5th special Shareholders' Meeting of 2020 to be held on May 25, 2020 and the China Securities Regulatory Commission.
Nuode New Materials Co Ltd, formerly Nuode Investment Co Ltd, is a China-based company mainly engaged in the research, development, manufacturing, and sales of electrolytic copper foil. The Companyâs products are mainly used in lithium battery manufacturing. The Company is also involved in other businesses such as manufacturing of wire & cable and auxiliary parts, as well material trading. The Company mainly conducts businesses within the domestic market.
Nuode Investment Co.,Ltd announced that it expects to receive CNY 1.42 billion in funding from Shenzhen Bangmin Venture Investment Co., Ltd. and other investors