Ocean's King Lighting Science & Technology Co., Ltd. announced that it expects to receive CNY 135.66 million in funding
September 05, 2019
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Ocean's King Lighting Science & Technology Co., Ltd. (SZSE:002724) announced a private placement of class A common shares for not more than gross proceeds of CNY 135,660,000 on September 6, 2019. The price of the shares issued shall not be lower than 90% of the average stock price 20 trading days before the pricing reference date. The transaction will include not more than 10 designated investors. The shares issued in the transaction have a face value of CNY 1 per share. The shares will have a lock-up period of 12 months after issuance of completion date. The transaction was approved by board of directors at 4th directorate of the 4th special meeting of 2019 and from internal decision-making bodies of Shenzhen Mingzhihui Construction Engineering Co., Ltd. and Shenzhen Laimeng Construction Partnership Enterprise (Limited Partnership). The transaction is subject to approval from shareholders of the company and from China Securities Regulatory Commission.
Ocean's King Lighting Science & Technology Co., Ltd. is a China-based company principally engaged in the research, development, manufacture and sale of special ambient lighting equipment, as well as the provision of related services. The Company's main products include fixed lighting, mobile lighting and portable lighting. The Company's products are mainly used in electric power, metallurgy, railway, oil field, petrochemicals, public security, fire protection, coal, military, port, venue, civil aviation, shipbuilding and machinery manufacturing industries. The Company distributes its products mainly in domestic market.