Beijing Hualian Hypermarket Co., Ltd. announced that it expects to receive CNY 1.5 billion in funding
September 15, 2021
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Beijing Hualian Hypermarket Co., Ltd. announced a private placement of shares for gross proceeds not more than CNY 1,500 million in a round of funding on September 16, 2021. The transaction included participation from eligible specific investors. The number of shares to be issued is not more than 30% of the company's total share capital after the issuance of shares to purchase assets. The securities issued are subjected to hold period of 6 months from the date of the completion of the issuance of shares. The transaction is approved in its 41st meeting of the seventh board of directors. The transaction is subjected to various approval including China Securities Regulatory Commission’s approval, and The Anti-Monopoly Bureau of the State Administration for Market Regulation.
Innovation New Material Technology Co Ltd, formerly Beijing Hualian Hypermarket Co Ltd, is a China-based company principally engaged in the research and development, production and processing of aluminum alloys and products. The Company's products mainly include high-end aluminum alloy rods, profiles, structural parts, strip foil, aluminum rods and cables, which are widely used in 3C electronics, automotive lightweight, construction industry and new energy.