Fuda Alloy Materials Co., Ltd. announced that it expects to receive CNY 245 million in funding
May 27, 2020
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Fuda Alloy Materials Co., Ltd. (SHSE:603045) announced that it will issue not more than 30,000,000 series A shares for gross proceeds of not more than CNY 245,000,000 on May 28, 2020. The transaction will include participation from 35 specific investors. All shares issued this time are subscribed in cash. The transaction has been reviewed and approved at the 24th meeting of the 6th directorate and in the 14th meeting of the 6th supervisory meeting of the company, and is subject to the approval of company's shareholders and the China Securities Regulatory Commission. The securities are subjected to hold period of six months.
Fuda Alloy Materials Co., Ltd. is a China-based company principally engaged in the research and development, production and sales of electrical contact materials, as well as provides related technical consulting and services. The Company's main products include contact materials, multilayer contacts and contact elements. The Company's products are mainly used in relays, circuit breakers, contactors, sensors, industrial control and other fields. The Company mainly operates its business in the domestic market.