Tongkun Group Co., Ltd. announced that it has received CNY 1.969999989 billion in funding from Zhejiang Leixin Industry Co.,Ltd.
September 28, 2021
Share
On September 29, 2021, Tongkun Group Co., Ltd. closed the transaction. The company issued 123,588,456 Class A shares at the price for CNY 15.94 per share for gross proceeds of CNY 1,969,999,988.64. The face value of the share is CNY 1. The issuance cost were CNY 8,229,788.12 and net raised funds are CNY 1,961,770,200.52. Among them, CNY 123,588,456 is included in the paid-in share capital, and CNY 1,838,181,744.52 is included in the capital reserve. The new shares issued in this issuance in the Shanghai Branch of China Securities Depository and Clearing Corporation Limited to complete the registration and custody related matters. The newly added shares issued this time shall not be transferred within 36 months from the date of completion of the issuance. It is estimated that the listing and circulation time will be the next trading day after the expiration of the restricted sale period.
Tongkun Group Co Ltd is a China-based company principally engaged in the production and sales of chemical fibers. The Company operates in two segments. Chemical Fiber segment is mainly engaged in the production and sales of various types of civilian polyester filaments. Petrochemical segment is mainly engaged in the production of purified terephthalic acid (PTA) for chemical fiber raw materials. The Company's main products include polyester pre oriented yarn (POY), stretch textured yarn (DTY), fully stretched yarn (FDY), and polyethylene terephthalate (PET) chips. Its products are mainly used in the fields of clothing and home textiles. The Company's products are sold to domestic market and overseas markets.