Zhewen Interactive Group Co., Ltd. announced that it expects to receive CNY 800 million in funding from Hangzhou Bowen Equity Investment Co., Ltd.
December 28, 2021
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Zhewen Interactive Group Co., Ltd. announced a private placement of not more than CNY 800,000,000 on December 29, 2021. The transaction will include participation from Hangzhou Bowen Equity Investment Co., Ltd. The offering price is CNY 4.85 per share, which is not less than 80% of the average price of the company's stock trading on the 20 trading days before the pricing base date. The company will not issue more than 164,948,453 shares, accounting for no more than 12.47% of the company's total share capital before the non-public issuance, and no more than 30% of the company's total share capital before the non-public issuance. The shares subscribed by investor shall not be transferred within 18 months from the date of the end of the offering. The transaction has been deliberated and approved at the first meeting of the company's tenth board of directors, is subject to approval of competent state-owned assets authorities, company's shareholders meeting, and China Securities Regulatory Commission.
On June 20, 2022, the company announced that the China Securities Regulatory Commission has accepted of the application for non-public offering of shares.
Zhewen Interactive Group Co Ltd is a China-based company mainly engaged in digital marketing business. The Company is principally engaged in the provision of performance marketing, brand marketing and data services. The Company's innovative businesses include commercial housing sales, road and bridge construction and ancillary facilities, sales of semiconductor components and others.