Zhejiang Dibay Intelligent Control Technology Co., Ltd. announced that it expects to receive CNY 50 million in funding from ZHEJIANG DIBAY ELECTRIC CO.,Ltd.
April 12, 2021
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Zhejiang Dibay Intelligent Control Technology Co., Ltd. announced a private placement of common shares for gross proceeds of CNY 50 million on April 13, 2021. The transaction will include participation from returning investor ZHEJIANG DIBAY ELECTRIC CO.,Ltd. (SHSE:603320). Post-closing of the transaction, registered capital of the company will increase to CNY 120 million. The transaction has been approved by the 8th meeting of the 4th directorate of the investor. The transaction does not need approval from shareholders of the investor parent. The transaction is expected to close no later than December 31, 2021.
Zhejiang Dibay Electric Co., Ltd. is a China-based company principally involved in research, development, manufacture and sales of refrigeration compressor motors. The Companyâs main products include refrigerator compressor motors, light commercial compressor motors and heavy commercial compressor motors. The Company distributes its products in domestic market and to overseas markets.
Zhejiang Dibay Intelligent Control Technology Co., Ltd. announced that it expects to receive CNY 50 million in funding from ZHEJIANG DIBAY ELECTRIC CO.,Ltd.