Fuchun Technology Co., Ltd. announced a financing transaction
September 16, 2020
Share
Fuchun Technology Co., Ltd. (SZSE:300299) announced a private placement of A shares on September 16, 2020. The common shares have a par value of CNY 1 per share and will be issued at a price not less than 80% of the average stock trading price of the company on the 20 trading days before the base date of the transaction pricing. The total number of shares to be issued in the transaction will not exceed 30% of the total share capital of the company before the issuance. All shares to be issued will be subject to a lock-up period of 6 months. The transaction has been approved in the third meeting of the fourth board of directors and third meeting of the fourth board of supervisors of the company, and is subject to approval of Shenzhen Stock Exchange, and China Securities Regulatory Commission. The formal plan of the transaction is subject to approval of board of directors, board of supervisors, and shareholders of the company.
Fuchun Technology Co., Ltd., formerly Fuchun Communications Co., Ltd., is a China-based company principally engaged in research and development, publication and operation of games. The Company mainly operates intellectual property (IP) mobile games and others. The Company is also engaged in communications business, including planning consulting, feasibility research and survey design in the early stage of communication network construction. In addition, the Company is also engaged in the sales of integrated equipment. The Company operates its businesses in domestic market and overseas markets.