Tianjin HYLT Aviation Science & Technology Co., Ltd. announced that it expects to receive CNY 39.2 million in funding from Wisesoft Co., Ltd.
March 20, 2019
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Tianjin HYLT Aviation Science & Technology Co., Ltd. announced a private placement of 7,000,000 common shares at a price of CNY 5.6 per share for gross proceeds of CNY 39,200,000 with existing investor Wisesoft Co., Ltd. (SZSE:002253) on March 21, 2019. Post the closing, the company will hold 20.52% stake in the company. The transaction was approved by the board of directors of the investor at the 12th meeting of the sixth directorate and does not need shareholders approval.
Wisesoft Co., Ltd. is a China-based software products provider. The Company mainly provides aviation and air traffic control products and services, graphic image products and services, information and other products and services, and intelligent transportation products and services. The Company distributes its products within domestic markets.