Guangdong SACA Precision Manufacturing Co., Ltd. announced that it expects to receive CNY 499.999996 million in funding
June 16, 2022
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Guangdong SACA Precision Manufacturing Co., Ltd. announced that the company has entered into a share subscription agreement for a private placement of not more than 102,249,488 shares for gross proceeds of not more than CNY 50,000,000 on June 17, 2022. The transaction will include participation from individual investor, Xie Xiaohua. After the issuance, if Xie Xiaohua and persons acting in concert hold a total of more than 30%, the shares cannot be transferred within 36 months from the issuance closing date; if not more than 30%, the shares cannot be transferred within 18 months from the issuance closing date. The transaction has been approved in the 20th Meeting of the Company's 4th Directorate held on June 17, 2022, and is subject to the approvals of the Company's Shareholders, the Shenzhen Stock Exchange, and the China Securities Regulatory Commission.
On August 30, 2022, the company announced that Shenzhen Stock Exchange has accepted the application for issuance of shares, the transaction is still subject to the approval of Shenzhen Stock Exchange.
On June 14, 2023, the company announced that the company needs to be approved by the China Securities Regulatory Commission.
Guangdong SACA Precision Manufacturing Co., Ltd. is a China-based company engaged in the research and development, design, manufacture and distribution of precision metal fittings. The Company's products include slides, hinges and other precision metal fittings. Slides include heavy-duty slides, silent slides, hidden slides and buffered slides, among others. Hinges include stainless steel hinges, American hinges and buffered hinges, among others. Its products are widely used in furniture, home appliances, industry, financial, automotive and other fields.