Zhejiang Tony Electronic Co., Ltd announced that it has received CNY 468.409992 million in funding from a group of investors

On November 11, 2021, Zhejiang Tony Electronic Co., Ltd closed the transaction. The company has issued 19,517,083 shares at price of CNY 24 per share for gross proceeds of CNY 468,409,992 in the transaction. The transaction included participation from Du Siming for 2,375,000 shares, Yang Yuezhi for 750,000 shares, Li Jianfeng for 625,000 shares, He Xueping for 1,100,418 and other investors, Of the total proceeds, CNY 19,517,083 was included in equity and CNY 442,019,117.82 in capital reserve.

The company paid CNY 6,873,791.18 as issuance expenses, bringing the net proceeds CNY 461,536,200.82. The paid underwriting sponsorship fee of CNY 600,000 including underwriting sponsor fee of CNY 500,000 being paid from proceeds raised.