Nova Electronics Co., Ltd announced that it expects to receive CNY 15 million in funding from Wutong Holding Group Co., Ltd.
Nova Electronics (Shanghai) Co., Ltd announce d a private placement of commons shares for gross proceeds of CNY 15,000,000 on March 17, 2021. The transaction will include participation from for 4.69% stake in the company. Of the total capital raised, CNY 361,199 will go to registered capital, and remaining to capital reserve. Post the transaction, the registered capital will increase from CNY 7,340,269 to CNY 7,701,468. The transaction has been approved in the 9th meeting of investor's 4th directorate meeting and does not need the shareholders’ approval.