TECO Electric & Machinery Co., Ltd. announced a financing transaction
March 30, 2020
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TECO Electric & Machinery Co., Ltd. (TSEC:1504) announced a private placement of up to 200,000,000 common shares and preferred shares on March 31, 2020. The shares has a par value of TWD 10. The securities issued in the transaction is subject to restriction period of three years from the delivery date. The transaction has been approved by the board of directors of the company. The transaction is subject to approval from company's shareholders.
TECO Electric Machinery Co Ltd is a Taiwan-based company mainly engaged in the manufacture and sale of heavy electricity equipment and electronic control products. The Company operates through two business segments. The Heavy Electrical Equipment segment is engaged in the manufacture and sale of various motors, reducers, inverters and generators. The Home Appliances segment is engaged in the manufacture, installation and sale of various televisions and other video appliances, as well as air conditioners, refrigerators, washing machines and small household appliances. The Company is also engaged in the provision of power engineering services and power equipment, as well as electric vehicle products, fire pumps and other products. The Company operates within the domestic market and to overseas markets, including the Americas, Europe, Australia, Japan, Singapore, Indonesia and mainland China.