UE Furniture Co., Ltd. announced that it expects to receive CNY 199.999999 million in funding from Yongyi Investment Co.,Ltd.
June 09, 2022
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UE Furniture Co., Ltd. announced that it has entered into agreement for a private placement of not more than 28,901,734 A shares at an issue price of CNY 6.92 per share for gross proceeds of not more than CNY 200,000,000 on June 10, 2022. The transaction will include participation from new investor Yongyi Investment Co., Ltd. The shares cannot be transferred within 36 months from the issuance closing date. The transaction has approved by the board of directors of the company at its 8th Meeting of the Company's 4th Directorate held on June 10, 2022, and is subject to the approvals of the Company's Shareholders and the China Securities Regulatory Commission.
On October 26, 2022, the company announced that the China Securities Regulatory Commission accepted the application for non-public issuance of shares.
UE Furniture Co Ltd is a China-based company mainly engaged in the research and development, production and sales of healthy seats. The Company's primary products include office chairs, training chairs, massage chair bodies, leisure chairs, children chairs, sofa and functional seat accessories. The Company mainly distributes its products in the Mainland of China and overseas markets.
UE FURNITURE CO., LTD. 
