Acrel Co.,Ltd. announced that it expects to receive CNY 800 million in funding
July 19, 2023
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Acrel Co.,Ltd. announced a private placement to issue A shares not more than CNY 64,414,837 shares at issue price of not less than 80% of the average price in the 20 trading days before the pricing reference date for gross proceeds of not more than CNY 800,000,000 on July 20, 2023. The transaction will include participation from not more than 35 investors. The issue price will not be lower than 80% of the average trading price of the company?s stock in the 20 trading days prior to the pricing reference date of the transaction. The shares cannot be transferred within six months from the date of completion of this issuance. The transaction has been approved in the 19th Meeting of the Company?s 5th Directorate and the 17th Meeting of the 5th Supervisory Board and is still subject to the approvals of the company?s shareholders, the Shenzhen Stock Exchange, and the China Securities Regulatory Commission.
On November 24, 2023 the company has received Shenzhen stock exchange?s acceptance private placement.
Shanghai Acrel Co., Ltd. is a China-based integrator of point data services. The Company's main products include power monitoring systems and products, power management systems and products, electrical safety systems and products and power sensors. The Company's products are mainly used in mining, buildings, hotel apartments, municipal engineering, logistics warehousing, medical and health and rail transportation. The Company distributes its products mainly in domestic market, with Shanghai, Jiangsu Province and Shandong Province as its main markets.