Gome Telecom Equipment Co., Ltd. announced that it expects to receive CNY 331.200233 million in funding from Shandong Longjidao Construction Co., Ltd.
September 22, 2020
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Gome Telecom Equipment Co., Ltd. (SHSE:600898) announced a private placement of not more than 65,714,332 A shares at a price of CNY 5.04 per share for gross proceeds of not more than CNY 331,200,233.28 on September 23, 2020. The transaction will involve participation from returning investors Shandong Longjidao Construction Co., Ltd for not more than CNY 165,600,121.50 and Beijing Zhansheng Investment Ltd for not more than CNY 165,600,121.50. The securities are subject to a lock up period of 36 months since issuance date. The transaction was approved at 3rd meeting of the 11th directorate. The transaction is subject to approval by the company's general meeting of shareholders and approved by the China Securities Regulatory Commission.
Gome Telecom Equipment Co., Ltd., formerly Sanlian Commercial Co., Ltd., is a China-based company principally engaged in the distribution of household electrical appliances. The Company operates regular chain household electrical appliance stores, which deal with color television (TV) sets, air-conditioners, refrigerators, washing machines, mobile phones, digital products, computers, video and audio products, kitchen electrical appliances, office equipment and small electrical appliances. The Company distributes its products through both physical stores and online store.
GOME TELECOM EQUIPMENT CO.,LTD. 
