SUNWODA Electronics Co., Ltd. announced that it expects to receive CNY 3.25 billion in funding
January 13, 2017
Share
SUNWODA Electronics Co., Ltd. (SZSE:300207) announced a private placement of maximum of 300,000,000 A shares for gross proceeds of up to CNY 3,246,210,000 on January 13, 2017. The transaction will include participation from not more than 5 investors. The transaction has been approved in the 26th session of the 3rd directorate of the company. The transaction is subject to approval from shareholders of the company in 1st Extraordinary General Meeting of 2017 scheduled to be held on February 9, 2017, and China Securities Regulatory Commission.
If the issue price is not less than the company’s average share price 1 transaction date prior to the first day of issuance, the shares can be traded from the end of the issuance. If the issue price is less than the company’s average share price but not less than 90% 20 transaction days prior to the first day of issuance, or of the issue price is less than less than the company’s average share price but not less than 90% 1 transaction day prior to the first day of issuance, the shares cannot be traded within 12 months from the end of the issuance.
SUNWODA ELECTRONIC CO., LTD is a China-based company principally engaged in the development, design, production and sale of lithium ion battery modules. The Company operates through two main segments: Industrial Manufacturing segment and Inspection Services segment. The Companyâs lithium ion battery modules include mobile phone and digital series, motor vehicle and power series, precise structural parts series, power management series, laptop series, lithium ion cells, energy storage systems, intelligent hardware series, intelligent manufacture series and others.