Asia Cuanon Technology Co.,Ltd. announced that it expects to receive CNY 599.999991 million in funding
November 15, 2021
Share
Asia Cuanon Technology (Shanghai) Co., Ltd announced that it has entered into Share Subscription Agreement for a private placement of not more than 30,943,785 shares at an issue price of CNY 19.39 per share for gross proceeds of CNY 599,999,991.15 on November 15, 2021. The transaction will include participation from returning individual investor Li Jinzhong. The shares cannot be transferred within 18 months from the issuance closing date. The transaction has been approved in the 22nd Meeting of the Company?s 4th Directorate and is subject to the approvals of the Company?s Shareholders and the China Securities Regulatory Commission.
ASIA CUANON TECHNOLOGY (SHANGHAI) CO., LTD. is a China-based company principally engaged in research, development, manufacturing, sales and service-providing of building insulation decoration integrated products, building insulation materials, functional architectural coatings and its application systems. The Company operates through two main segments. The Main Business segment is principally involved in the sales of building decoration materials, including insulation decorative panels, real gold fire insulation board and functional architectural coatings, among others. The Other Business segment is mainly engaged in the sales of related supporting materials.