Hangzhou Prevail Optoelectronic Equipment Co., Ltd. announced that it expects to receive CNY 449.999999 million in funding
September 06, 2021
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Hangzhou Prevail Optoelectronic Equipment Co., Ltd. announced that it has entered into a share subscription agreement for private placement of 18,765,638 common shares at a price of CNY 23.98 per share for gross proceeds of CNY 449,999,999.24 on September 7, 2021. The transaction will included participation from individual investor Lei Qianguo, will hold 21.48% company stake and 38.43% voting rights, and he will become the company’s controlling shareholder and the actual controller. The shares cannot be transferred within 36 months from the issuance closing date. The transaction has been approved at the 9th meeting of the 4th directorate and 8th meeting of 4th supervisory board of company and is subject to approval of shareholder's, the Shenzhen Stock Exchange, and the China Securities Regulatory Commission.
Hangzhou Prevail Optoelectronic Equipment Co Ltd is a company mainly engaged in research, development, production and sales of radio and television network equipment. The Company's primary products are cable television optical fiber transmission equipment and cable television cable transmission equipment, such as optical transmitters, optical receivers, amplifiers, branch distributors and radio frequency equipment. The Company is also involved in production of front-end system and data communication system products, including satellite receivers, network adapters, encoders and Ethernet over Coax (EOC) equipment. The Company's products are mainly used in the transmission network, optimization and upgrading, as well as broadband access in radio and television industry. The Company sells its products to both domestic and international markets, including Vietnam, Indonesia, Singapore, Turkey and Russia.