Zhejiang Tuna Environmental Science & TechnologyCo.,Ltd. announced that it expects to receive CNY 510 million in funding
September 28, 2020
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Zhejiang Tuna Environmental Science & TechnologyCo.,Ltd. (SHSE:603177) a private placement of not more than 60,600,000 A shares for gross proceeds of no more than CNY 510,000,000 on September 28, 2020. The company will issue shares at a price of not lower than 80% of the median market price of the company’s shares as of 20 previous days to issuance date. The transaction will include participation from no more than 35 specific investors. The transaction has been approved by the board of directors of the company at its 20th meeting of the 3rd board of directors and at 13th meeting of the 3rd board of supervisors. The transaction is subject to approval from company’s shareholders meeting and China Securities Regulatory Commission. The shares issued are subject to a hold period of 6 months from the date of issuance. The transaction will be valid for 12 months since approval from the shareholders’ meeting of the company.
Zhejiang Tuna Environmental Science & Technology Co., Ltd. is a China-based company and mainly engaged in providing flue gas comprehensive service. The main products of the company include desulfurization equipment, honeycomb and flat-panel denitrification catalyst, wet electrostatic precipitator, and among others. The Company also provides flue gas treatment engineering service which means whole scheme design, material procurement, project construction and commissioning of the flue gas treatment system according to the specific needs of the users, and finally delivering the users after the qualified acceptance to achieve the goal of pollution abatement. The Company mainly runs business for the power, metallurgy, petrochemical and other industries, and distributes its products and service in domestic and overseas markets.