Fuda Alloy Materials Co., Ltd. announced that it expects to receive CNY 3 billion in funding
October 18, 2021
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Fuda Alloy Materials Co., Ltd. announced a private placement of common shares for gross proceeds of not more than CNY 3,000,000,000 on October 19, 2021. The final issuance price must be approved by the China Securities Regulatory Commission and the board of directors of the company shall be authorized by the shareholders meeting in accordance with relevant laws, administrative regulations and the provisions of the regulatory documents will be determined through consultation with the independent financial adviser. The securities are subjected to hold period of six months. The transaction plan has been reviewed and approved at the 32nd meeting of the sixth board of directors of the company; the transaction plan was reviewed and approved by the counterparty's internal decision-making body.
Fuda Alloy Materials Co., Ltd. is a China-based company principally engaged in the research and development, production and sales of electrical contact materials, as well as provides related technical consulting and services. The Company's main products include contact materials, multilayer contacts and contact elements. The Company's products are mainly used in relays, circuit breakers, contactors, sensors, industrial control and other fields. The Company mainly operates its business in the domestic market.