Jilin Jlu Communication Design Institute Co., Ltd announced that it expects to receive CNY 251.1917 million in funding
November 08, 2021
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Jilin Jlu Communication Design Institute Co., Ltd announced a private placement of not more than 72,000,000 common shares for gross proceeds of up to CNY 251,191,700 on November 8, 2021. The transaction will include participation from not more than 35 investors. The issue price is not less than 80% of the average price of the company?s A shares on the 20 trading days prior to the pricing base date. The pricing base date for the transaction is the first day of the issuance period of the company's current issuance of shares. The transaction has been approved at the ninth meeting of fourth board of directors of the company. The transaction is subject to approval from Shenzhen Stock Exchange, China Securities Regulatory Commission and shareholders of the company. The securities issued will be subject to a hold period of 6 months from the date of issuance.
Jilin Jlu Communication Design Institute Co Ltd is a company that provides communication network technology services. The Company operates two segments. The Design Business segment is engaged in providing communication network consulting, communication network survey design and network optimization services. The Engineering Business segment provides communication network engineering services and communication network maintenance services. The Company's clients include domestic and international communication operators, government agencies, enterprises and institutions. The Company operates in domestic and overseas markets, such as the Philippines.