Shenzhen Prince New Materials Co., Ltd. announced that it expects to receive CNY 220 million in funding from Jiangsu Manjiang Bitou Technology Development Co., Ltd, Guangzhou Minglei Junxin Asset Management Co., Ltd.
September 17, 2019
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Shenzhen Prince New Materials Co., Ltd. (SZSE:002735) announced a private placement for gross proceeds of not more than CNY 220,000,000 on September 18, 2019. The company will issue not more than 14,270,123 A shares in the transaction. The transaction will include participation from Jiangsu Manjiang Bitou Technology Development Co., Ltd for not more than CNY 150,000,000 and Guangzhou Minglei Junxin Asset Management Co., Ltd. for not more than CNY 70,000,000. The shares to be issued in the transaction must not be transferred within 36 months after the issuance. The transaction is subject to approval from company’s shareholders’ meeting and the China Securities Regulatory Commission. The transaction was approved by the 9th session of the company’s 4th directorate meeting.
Shenzhen Prince New Materials Co.,Ltd. is a China-based company principally engaged in the research, development, production and sales of plastic packaging materials. The Company's main products include plastic packaging films, plastic trays, plastic cushioning materials and other packaging materials. The Company's products are mainly applied in the process of production and sales packaging of electronic products, such as computers, smart phones and home appliances. The Company distributes its products in domestic market and to overseas markets.
Shenzhen Prince New Materials Co., Ltd. announced that it expects to receive CNY 220 million in funding from Jiangsu Manjiang Bitou Technology Development Co., Ltd, Guangzhou Minglei Junxin Asset Management Co., Ltd.