Heshan Shian Electronic Technology Co., Ltd. announced that it expects to receive CNY 700 million in funding from Olympic Circuit Technology Co., LTD.
April 08, 2019
Share
Heshan Shi'an Electronic Technology announced a private placement of common shares for gross proceeds of CNY 700,000,000 on April 9, 2019. The transaction will include participation from existing investor Olympic Circuit Technology Co., LTD. (SHSE:603920). As a part of the transaction, CNY 80,000,000 will go into registered capital and CNY 620,000,000 will go to capital reserve. The registered capital of the company will increase to CNY 300,000,000. Post completion of the transaction, Olympic Circuit Technology Co., LTD. (SHSE:603920) will own 32.67% stake in the company. The transaction has been approved by board of directors of the investor at its 19th meeting of the 2nd directorate. The transaction is not subject to shareholders approval of the investor.
Olympic Circuit Technology Co Ltd is a China-based company principally involved in the research, development, manufacture and sales of different sorts of printed circuit boards (PCBs). The Company's products principally include high multi-layer rigid boards, high-dimension interconnect (HDI) boards, flexible printed circuits (FPC), rigid-flex boards (including HDI) and metal substrates. The Company's products are mainly used in automotive electronics, high-end consumer electronics, computer and related equipment, industrial control, communication and medical equipment and other fields. The Company distributes its products both within domestic market and to overseas market.
OLYMPIC CIRCUIT TECHNOLOGY CO., LTD 
