Anhui Wantong Technology Co.,Ltd. announced a private placement of not more than 50,000,000 A shares for gross proceeds of not more than CNY 250,000,000 on June 5, 2023. The transaction will include participation from not more than 35 investors. The shares cannot be transferred within 6 months from the issuance closing date.
On June 16, 2023, the company announced that the transaction has been approved in the company?s 2022 annual shareholders? meeting.
On August 21, 2023, the company announced that the transaction has been approved at the 12th meeting of the company?s sixth board of directors, at the 13th meeting of the 6th directorate and the 5th meeting of the 6th supervisory board of the company. The transaction still needs to be approved by the company?s directorate, the Shenzhen Stock Exchange and the China Securities Regulatory Commission.