Triumph Science & Technology Co.,Ltd announced that it expects to receive CNY 1.5 billion in funding from Triumph Science and Technology Group Co., Ltd., and other investors
October 18, 2021
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Triumph Science & Technology Co.,Ltd announced a private placement of not more than 229,165,200 A shares for gross proceeds of not more than CNY 1,500,000,000 on October 18, 2021. The issue price will not less than 80% of the average price in the 20 trading days before the pricing reference date. The transaction will include participation from not more than 35 investors including existing investor Triumph Science and Technology Group Co., Ltd. who already holds 27.22% and post closing will hold not more than 30% stake in the company. The company has entered into share subscription agreement with the investors. The shares issued to Triumph Science and Technology Group Co., Ltd. will be subject to hold period of 18 months and to other investors will be subject to hold period of 6 months from closing. The transaction has been approved at the 23rd meeting of the company's 7th directorate and is subject to approvals of the State-owned assets supervision, shareholders, and the China Securities Regulatory Commission.
On October 22, 2021, the transaction was approved by investor's parent.
Triumph Science&Technology Co Ltd is a China-based company, principally engaged in electronic message display business. The Company operates in two segments. New Display segment principally provides capacitive touch screens, thin film transistor-liquid crystal display (TFT-LCD) thinning glass, TFT liquid crystal display modules (LCMs) and touch panel (TP) modules, indium tin oxide (ITO) conductive film glass and flexible coatings. The Company's products are applied in electronic information display terminal products. New Materials segment is mainly engaged in the production and sales of zirconia, spherical materials, nano-barium titanate and other materials. The Company distributes its products within domestic market and to overseas markets.
Triumph Science & Technology Co.,Ltd announced that it expects to receive CNY 1.5 billion in funding from Triumph Science and Technology Group Co., Ltd., and other investors