Shanghai Yimin Commercial Group Co., Ltd. announced a financing transaction
June 12, 2020
Share
Shanghai Yimin Commercial Group Co., Ltd. (SHSE:600824) announced a private placement of common shares and convertible bonds at an issue price not less than 80% of the average price of the listed company's stock trading 20 trading days before the first day of the issuance period on June 12, 2020. The bonds are convertible into common shares at an not less than 80% of the average price of the listed company's stock trading 20 trading days before the first day of the issuance period. The transaction will include participation from not more than 35 specific investors. The transaction has been approved in the 16th meeting of the 8th board and the 15th meeting of the 8th board of supervisors of the company and is subject to approval in the general meeting of shareholders of the company and approval of the China Securities Regulatory Commission. The securities to be issued are subject to a hold period of 6 months. The transaction is valid for 12 months from the date of submission to the general meeting of shareholders for approval.
Shanghai Yimin Commercial Group Co Ltd is a China-based company mainly engaged in commercial wholesale and retail, commercial property leasing, pawn industry, catering and tourism services. The commercial wholesale and retail business is mainly engaged in the wholesale and retail of underwear, gold jewelry, photographic equipment and bedding. Commercial property leasing operations are mainly engaged in the leasing and operation of shops, office buildings and factories. The hotel, catering and tourism business is mainly engaged in building characteristic hotels and providing catering and other services. The company also engages in pawn, senior care and online sales services. The Company mainly operates its businesses in the domestic market.