Fuchun Technology Co., Ltd. announced that it expects to receive CNY 476.5728 million in funding
April 20, 2021
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Fuchun Technology Co., Ltd. announced a private placement of 207,368,845 common shares for a gross proceeds of up to CNY 476,572,800 on April 21, 2021. The transaction will include participation from no more than 35 investors. The transaction has been approved at the ninth meeting of the fourth board of directors of the company. The transaction still needs to be approved by the company’s shareholders meeting, reviewed and approved by the Shenzhen Stock Exchange, and the China Securities Regulatory Commission. The shares shall not be transferred within 6 months from the end of the issuance.
Fuchun Technology Co., Ltd., formerly Fuchun Communications Co., Ltd., is a China-based company principally engaged in research and development, publication and operation of games. The Company mainly operates intellectual property (IP) mobile games and others. The Company is also engaged in communications business, including planning consulting, feasibility research and survey design in the early stage of communication network construction. In addition, the Company is also engaged in the sales of integrated equipment. The Company operates its businesses in domestic market and overseas markets.