Huachangda Intelligent Equipment Group Co., Ltd. announced that it expects to receive CNY 626.8 million in funding
July 31, 2020
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Huachangda Intelligent Equipment Group Co., Ltd. (SZSE:300278) announced a private placement of not more than 179,155,023 A shares for gross proceeds of not more than CNY 626,800,000 on July 31, 2020. The transaction will include participation from not more than 35 specific investors after meeting the requirements of the China Securities Regulatory Commission. The issue price is not lower than the issue base price, that is, not lower than 80% of the average price of the company's stock price during the 20 trading days before the pricing base date. The securities issued will be subject to a hold period of six months from the end of the issuance. The transaction has been approved at the third meeting of the fourth board of directors and is subject to the approval of the company’s shareholders meeting, the Shenzhen Stock Exchange, and the China Securities Regulatory Commission for registration.
Huachangda Intelligent Equipment Group Co Ltd is a China-based company mainly engaged in providing advanced industrial robots, intelligent manufacturing equipment and system integration solutions. The Company's main business includes independent research and development (R&D), design, manufacturing, installation and commissioning, after-sales service, etc. of automatic intelligent equipment. The Company's products include body-in-white flexible welding production line, final assembly automation production line, coating automation production line, digital chemical plant solutions, intelligent conveying equipment, factory automation system, robot advanced manufacturing system, etc. The Company's products are exported to Brazil, the United States, Mexico and other countries and regions.