Guangdong Dowstone Technology Co., Ltd. announced that it expects to receive CNY 801.54 million in funding
January 23, 2017
Share
Guangdong Dowstone Technology Co., Ltd. (SZSE:300409) announced a private placement of up to 26,000,000 A shares for gross proceeds of up to CNY 801,540,000 on January 23, 2017. The transaction will include participation from not more than 5 specific investors, including existing individual investor Rong Jihua who committed to invest for not lower than 10% of the total shares to be issued and not more than 40% of the total shares to be issued. The issue price shall not go lower than the average price of the company’s shares 1 trading day prior to the first day of issuance; the issue price shall not go lower than 90% of the average price of the company’s shares 20 trading days prior to the first day of issuance or shall not go lower than 90% of the average price of the company’s shares 1 trading day prior to the first day of issuance. The transaction was approved at the 1st session for 2017 of the 3rd directorate meeting of the company and is further subject to the approval of its shareholders’ meeting.
Guangdong Dowstone Technology Co., Ltd. is a China-based company principally engaged in the research, development and manufacture of new type inorganic non-metallic materials products. The Companyâs main products consist of full cast printing glaze, base glaze, ceramic ink and other auxiliary materials. The Company also provides its customers with product design and integrated technical services. The Company operates its business mainly in South China and East China.