Nuode New Materials Co.,Ltd. announced that it expects to receive CNY 2.5 billion in funding
On May 25, 2023, the company issued that it will issue not more than 523,941,759 A shares for gross proceeds of not more than CNY 2,500,000,000. The transaction will include participation from not more than 35 investors. The issue price will not be less than 80% of the average price in the 20 trading days before the pricing reference date. The transaction has been approved in the 18th meeting of the companyâs 10th directorate and is subject to approvals from the companyâs shareholders, the Shanghai Stock Exchange, and the China Securities Regulatory Commission. The securities have a hold period of 6 months from the issuance closing date.