Ningbo Fangzheng Automobile Mould Co.,Ltd. announced that it expects to receive CNY 1.2 billion in funding from a group of investors
June 07, 2022
Share
Ningbo Fangzheng Automobile Mould Co.,Ltd. announced a private placement of not more than 31,920,000 A shares for gross proceeds of not more than CNY 1,200,000,000 on June 8, 2022. The transaction will include participation from no more than 35 specific investors. The types of shares issued in this private placement are domestically listed shares with a par value of CNY 1 each. The pricing base date of private placement is the first day of the issue period, and the issue price is not less than 80% of the average price of the company's stocks 20 trading days before the first day of the issue period. The lock-up period is 6 months. The resolution of this issuance is valid for 12 months from the date of deliberation and approval by the company's shareholders meeting. This issuance will not lead to changes in the company's control. The transaction has been approved by the board of directors of the company in its 17th meeting of the 2nd directorate and are subject to the approval of the company's shareholders meeting, Shenzhen Stock Exchange and the China Securities Regulatory Commission.
On August 29, 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.
Ningbo Fangzheng Automobile Mould Co Ltd is a China-based company mainly engaged in the research, development, manufacturing and operation of automobile plastic molds. The Company's main products include large injection molds, blow molds, precision molds, melt blown cloth molds, and plastic parts and accessories. The Companyâs products are mainly provided to downstream auto parts companies to produce plastic products required by automobiles, including automotive interior systems such as dashboards, auxiliary dashboards, door panels, pillar guards; automotive exterior systems such as bumpers, grilles, and spoiler; automotive air-conditioning air filter systems such as air-conditioning shells, air-conditioning dampers, intake manifolds; automotive fuel tank systems such as fuel tanks, fuel filler pipes. The Company's business is distributed in China and overseas.