Jiangsu Tongrun Equipment Technology Co.,Ltd announced that it expects to receive CNY 1.7 billion in funding from Zhejiang Chint Electrics Co., Ltd. and other investors
July 25, 2023
Share
Jiangsu Tongrun Equipment Technology Co.,Ltd announced that it has entered into share subscription agreement for private placement of not more than CNY 106,955,115 A shares for gross proceeds of not more than CNY 1,700,000,000 on July 26, 2023. The transaction included the participation from not more than 35, including Zhejiang Chint Electrics Co., Ltd., hold 106,955,115 shares will subscribe to 29.99% stake of the issuance. The issue price is not less than 80% of the average price in the 20 trading days before the pricing reference date. The shares cannot be transferred within 18 months from the issuance closing date and the shares subscribe to cannot be transferred within 6 months from the issuance closing date. The transaction has been approved in the 4th Meeting of the Company?s 8th Directorate, 16th meeting of the 9th Board of Directors and the 14th meeting of the 9th Board of Supervisors and is still subject to the approvals of the Company?s Shareholders, the Shenzhen Stock Exchange, and the China Securities Regulatory Commission.
On April 3, 2024, the company announced that the Shenzhen Stock Exchange has reviewed and decided to accept the Company?s private placement application.
ZHEJIANG CHINT ELECTRICS CO., LTD. is a China-based company principally engaged in the manufacture and distribution of low voltage electrical devices. The Companyâs principal products include power distribution devices, terminal devices, control devices, power supply devices, electronic devices, instrumentation, constructive electric appliances, control systems, solar modules, among others. The Company is also involved in the power plant operation and the photovoltaic power plant contracting businesses through its subsidiaries. The Company mainly operates its businesses in domestic and overseas markets.
Jiangsu Tongrun Equipment Technology Co.,Ltd announced that it expects to receive CNY 1.7 billion in funding from Zhejiang Chint Electrics Co., Ltd. and other investors