Guangdong Xinhui Meida Nylon Co., Ltd. announced that it expects to receive CNY 497.507522 million in funding
August 05, 2021
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Guangdong Xinhui Meida Nylon Co., Ltd. announced a private placement of not exceed 158,441,886 shares at a price of CNY 3.14 per share for gross proceeds of no more than CNY 497,507,522.04 on August 5, 2021.The transaction will include participation from Fujian Liheng Investment Co., Ltd. The share shall not exceed 30% of the total share capital of the company. After the completion of the transaction, the shares shall not be transferred within 36 months from the date of completion of the issuance. The transaction has been approved by board of directors of the company in its second meeting of the company’s tenth board of directors, and requires the approval of the company’s general meeting of shareholders, the anti-monopoly review of the concentration of operators of the State Administration for Market Regulation and the approval of the China Securities Regulatory Commission before implementation.
Guangdong Xinhui Meida Nylon Co Ltd is a China-based company principally engaged in the production and sales of nylon 6 chips and spinning. The Company is also engaged in supporting textile production. The Company's main products include nylon 6 chips, nylon 6 fiber and nylon 6 fabrics, such as civilian spinning grade chips, industrial spinning grade chips, film grade chips, modified base material chips, injection molding grade chips, as well as a variety of features fiber. The Company's products are mainly used in civilian spinning, modified plastics, engineering plastics and injection molding industries. The Company distributes its products within the domestic market and to overseas markets.