Shandong Rike Chemical Co.,LTD. announced that it expects to receive CNY 300 million in funding
January 15, 2021
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Shandong Rike Chemical Co., Ltd. (SZSE:300214) announced a private placement of not more than 45,000,000 shares for gross proceeds of not more than CNY 300,000,000 on January 15, 2021. The issue price shall not be less than 80% of the average price of the company’s stock trading on the 20 trading days before the average daily stock trading price of the company. The transaction will include participation from not more than 35 specific subscribers. The shares to be issued in the transaction will have a lock-up period of 6 months from issuance. The transaction has been approved at the 14th meeting of the 4th board of directors of the company. The transaction is subject to approval from company’s shareholders at first extraordinary general meeting of shareholders in 2021, Shenzhen Stock Exchange, and China Securities Regulatory Commission.
Shandong Rike Chemical Co.,LTD. is a China-based company principally engaged in the research, development, production and sale of polyvinyl chloride (PVC) plastic modifier products. The Company's main products include Acrylic Additives (ACR) Impact Modifier, Acrylic chlorinated polyethylene Modifier (ACM) Low Temperature Toughening Agent and Acrylic-Methyl Methacrylate-Butadiene (AMB) Impact Modifier. The Company's products are mainly used in various kinds of plastic profiles, pipes, plates, profiles and foam materials. The Company distributes its products in domestic market and to overseas markets.