Shanxi Tond Chemical Co., Ltd. announced that it expects to receive CNY 800 million in funding
October 22, 2021
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Shanxi Tond Chemical Co., Ltd. announced a private placement of not more than 40,000,000 A shares at a par value of CNY 1 per share for gross proceeds of CNY 800,000,000 on October 23, 2021. The transaction include participation from not more than 35 investors. The issue price is not lower than 80% of the average price trading on the 20 trading days before the first day of the issuance period. The number of shares to be issued in this non-public issuance shall not exceed 30% of the total share capital of the company. The securities are subject to hold period of 6 months. The was approved by the board of directors its eighteenth meeting of the company's seventh board of directors. The transaction is subjected approval of shareholders in general meeting and approval by the China Securities Regulatory Commission.
SHANXI TOND CHEMICAL CO., LTD. is a China-based company principally engaged in the research, development, manufacture and sales of civilian explosives. The Companyâs main products include explosives, including emulsion explosives, expanded ammonium nitrate explosives, ammonium nitrate fuel oil (ANFO) explosives and others, as well as silica products. Through its subsidiaries, the Company is also engaged in the provision of engineering blasting services.