Fujian Furi Electronics Co.,Ltd announced that it expects to receive CNY 608.999987 million in funding from Shenzhen Hengxin Huaye Equity Investment Fund Management Co., Ltd., Fujian Electronics & Information Co.,Ltd, and other investors
March 29, 2020
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Fujian Furi Electronics Co.,Ltd (SHSE:600203) announced a private placement of not more than 110,126,580 A shares at a price of CNY 5.53 per share for gross proceeds of not more than CNY 608,999,987 on March 1, 2020. The transaction will involve participation from existing investor Fujian Electronics & Information (Group) Co.,Ltd for 48,643,761 shares, Huaye Fanglue No. 1 Private Equity Investment Fund, a fund managed by Shenzhen Hengxin Huaye Equity Investment Fund Management Co., Ltd. for 27,124,773 shares, individual investors, Yu Yong for 18,083,182 shares and Wu Hao for 16,274,864 shares. The shares to be issued in the transaction will have a hold period of 18 months from the date of issuance. The transaction has been approved in the second interim meeting of the sixth board of directors of the company, and is subject to approval of China Securities Regulatory Commission and the shareholders of the company.
FUJIAN FURI ELECTRONICS CO., LTD is a China-based company principally engaged in communication and smart appliance business, as well as trading business. The Company operates its businesses mainly through import and export trading of mechanical and electrical products, textile, food, petrochemicals, steel and other types of commodities, as well as the manufacture of light emitting diode (LED) lighting equipment, household appliances and electronic communications products. The Company is also engaged in software and technology development business. The Company conducts its businesses in domestic and overseas markets.
Fujian Furi Electronics Co.,Ltd announced that it expects to receive CNY 608.999987 million in funding from Shenzhen Hengxin Huaye Equity Investment Fund Management Co., Ltd., Fujian Electronics & Information Co.,Ltd, and other investors