Hubei Forbon Technology Co.,Ltd. announced that it expects to receive CNY 439.9 million in funding
April 24, 2020
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Hubei Forbon Technology Co.,Ltd. (SZSE:300387) announced a private placement of not more than 87,539,105 A shares for a gross proceeds of not more than CNY 439,900,000 on April 25, 2020. The transaction will include participation from not more than 35 investors. The issue price is not less than 80% of the average price in the 20 trading days before the pricing reference date. The shares issued in the transaction cannot be transferred within 6 months from the issuance closing date. The transaction has been approved in the 8th meeting of the 3rd directorate and the 8th meeting of the 3rd supervisory board. The transaction is subject to the approval of the shareholders and approval of the China Securities Regulatory Commission.
Hubei Forbon Technology Co.,Ltd is a China-based company principally engaged in the provision of fertilizer additives products, the complete technical services and the overall solution of automatic control systems of refined additives. The Company's main products are fertilizer additives, including anti-caking agents, multi-purpose package agents, granulation improver, phosphate rock flotation agents, sustained release materials and other energy saving additives. The Company distributes its products in domestic market and to overseas markets.