Chaoyang Jinda Titanium Industry Co.,Ltd. announced that it expects to receive CNY 47.52 million in funding from Western Metal Materials Co., Ltd. and another investor
September 24, 2020
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Chaoyang Jinda Titanium Industry Co.,Ltd. announced a private placement of 12,000,000 shares at a price of CNY 3.96 per share for gross proceeds of 47,520,000 on September 25, 2020. The transaction will include participation from Western Metal Materials Co., Ltd. (SZSE:002149) and Western Superconducting Materials Technology Co., Ltd. The transaction has been approved at the fifth meeting of the seventh board of directors of Western Metal Materials Co., Ltd. (SZSE:002149). The transaction is not subject to approval from shareholders.
WESTERN METAL MATERIALS CO., LTD is a China-based company primarily engaged in the research and development, manufacture and sales of rare metal products. The Company provides rare metal clad materials and products, titanium products, metal fibers and products, refractory metal products, tungsten-molybdenum materials, as well as precious metal products and others. The Company is also engaged in the rare metal testing and processing business. The Company distributes its products in domestic market and to overseas markets.
Chaoyang Jinda Titanium Industry Co.,Ltd. announced that it expects to receive CNY 47.52 million in funding from Western Metal Materials Co., Ltd. and another investor
WESTERN METAL MATERIALS CO., LTD. 
