Zhuzhou Hongda Electronics Corp.,Ltd. announced that it expects to receive CNY 1 billion in funding from a group of investors
June 03, 2021
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Zhuzhou Hongda Electronics Corp.,Ltd. announced a private placement of not more than 40,010,000 A shares for gross proceeds of not more than CNY 1,000,000,000 on June 4, 2021. The issuance price of this issuance shall not be lower than the average price of the company's stock trading on the 20 trading days before the pricing base date. The number of shares does not exceed 10% of the company's total share capital before the issuance. The issuance subscribers for the transaction are no more than 35 specific investors who meet the requirements of the China Securities Regulatory Commission, including domestically registered securities investment fund management companies, securities companies, trust investment companies, financial companies, and financial companies that meet the requirements of the China Securities Regulatory Commission including Insurance institutional investors, qualified foreign institutional investors, and other legal persons, natural persons or other qualified investors. The twentieth meeting of the board of directors of the company deliberated and approved the transaction. The transaction is subject to approval of National Defense Science and Industry Bureau and company's general meeting of shareholders. The shares subscribed shall not be transferred within six months from the end of the issuance.
On July 22, 2021, the company announced that the transaction has been approved by National Defense Technology Industry.
On August 24, 2021, the company announced that the application of the shares have been accepted by Shenzhen Stock Exchange.
Zhuzhou Hongda Electronics Corp Ltd is a company engaged in the research and development, production and sales of electronic components and circuit modules, and provision of related services. The Company's products include high-energy tantalum hybrid capacitors, polymer tantalum capacitors, film capacitors and transformers. The products are used in systems engineering and equipment, such as vehicles, aircraft, ships, radars and electronics.