Jiangsu Riying Electronics Co.,Ltd. announced that it expects to receive CNY 398.13875 million in funding
November 18, 2022
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Jiangsu Riying Electronics Co.,Ltd. announced a private placement of not more than 26,422,800 A shares at an issue price of not more than CNY 15.068 for the gross proceeds of not more than CNY 398,140,000 on November 18, 2022. The transaction will include participation from not more than 35 investors. The transaction has been approved in the 5th Meeting of the Company's 4th Directorate and is subject to the approvals of the Company's Shareholders and the China Securities Regulatory Commission. The shares cannot be transferred within 6 months from the issuance closing date.
On January 12, 2023, the company received the China Securities Regulatory Commission Administrative Licensing Application Acceptance Form (acceptance number: 230018) issued by the China Securities Regulatory Commission. The company's non-public offering of shares still needs to be approved by the China Securities Regulatory Commission.
Jiangsu Riying Electronics Co Ltd is a China-based company mainly engaged in research and development, production and sales of auto parts. The company's products are divided into sensing products, transmission products, control products and others. The sensing products include various sensors and 360 panoramic view systems, the transmission products include automotive wiring harnesses, and the control products include sunroof controllers. The Company's products also include washing systems, precision injection molding and others. The Company mainly operates its businesses in the domestic and overseas markets.