Luoyang Northglass Technology Co.,Ltd announced that it expects to receive CNY 1.1933017 billion in funding
April 07, 2023
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Luoyang Northglass Technology Co.,Ltd announced that it will issue no more than 281,151,000 A shares for gross proceeds of no more than CNY 1,193,301,700 on April 7, 2023. The transaction will include participation from no more than thirty-five specific investors. The company will issue the shares on the pricing base date of this issuance is the first day of the issuance period, and the issue price shall not be lower than 80% of the company's stock trading average price in the twenty trading days prior to the pricing base date. The number of shares issued this time is calculated by dividing the total funds raised by this issuance by the issue price, and shall not exceed 30% of the company's total share capital before this issuance. All the securities issued in the transaction will subject to transfer restriction of six months from the date of completion. The transaction has been approved in 6th session of the company?s 8th directorate and the 4th session of the company?s 8th supervisory board and sixth meeting of the eighth board of directors. The transaction is subject to approval of shareholders of the company in the general meeting, by the Shenzhen Stock Exchange and the China Securities Regulatory Commission.
On August 4, 2023, the company announced that it has received the "Notice on Accepting the Application Documents for company to Issue Stocks to Specific Objects No. 606 [2023] issued by the Shenzhen Stock Exchange.
Luoyang Northglass Technology Co.,LTD is a China-based company principally engaged in the research, development of glass deep processing technology, as well as the manufacture and sale of glass products. The Company's main technical products include various types of glass deep-processing equipment and deep-processing glass products, such as glass tempering units, low emissivity (low-e) glass production lines, pretreatment equipment and automation systems, automotive glass pretreatment production lines, screen printing equipment, insulating glass, toughened glass, laminated glass, low-e glass and other composite glass products. The Company distributes its products in domestic market and to overseas markets.