HUNAN SPECIAL METAL MATERIALS Co., Ltd. announced that it expects to receive CNY 44.214 million in funding from Sinosteel Anhui Tianyuan Technology Co.,Ltd.
March 28, 2021
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HUNAN SPECIAL METAL MATERIALS Co., Ltd. announced a private placement of common shares for gross proceeds of CNY 44,214,000 on March 29, 2021. The transaction will involve participation from existing investor, Sinosteel Anhui Tianyuan Technology Co.,Ltd. Post-closing of the transaction, the investor will retain its 100% stake in the company. The transaction has been approved by the board of directors of the investor at the 26th session of the company’s 6th directorate.
Sinosteel New Materials Co Ltd is a China-based company mainly engaged in magnetic materials and inspection and testing business. Its main products and businesses include soft magnetic materials, permanent magnet devices, rare earth permanent magnet devices and inspection and testing services. The soft magnetic material products include manganese tetroxide, iron silicon powder, sendust powder and so on. The inspection and testing services mainly include testing of metal products, steel structures, engineering raw materials and structural parts. The Company's business also includes metal products, mining, building materials and metallurgical equipment. The Company mainly conducts business in the domestic market.
HUNAN SPECIAL METAL MATERIALS Co., Ltd. announced that it expects to receive CNY 44.214 million in funding from Sinosteel Anhui Tianyuan Technology Co.,Ltd.
SINOSTEEL NEW MATERIALS CO., LTD. 
