Wuhan Tianyu Information Industry Co., Ltd. announced that it expects to receive CNY 1.35 billion in funding
September 07, 2021
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Wuhan Tianyu Information Industry Co., Ltd. signed a subscription agreement to issues shares at the price of CNY 10.99 per share for gross proceeds of not more than CNY 1,350,000,000 on September 8, 2021. The transaction will include participation from Yan Chunyu, one of the actual controllers of the company. The number of shares issued is determined by dividing the total amount of funds raised by the issue price and does not exceed 30% of the company's total share capital before the issuance, that is, 129,016,800 shares. The shares subscribed shall not be transferred within 36 months from the end of the issuance. The transaction had been deliberated and approved at the 33rd meeting of the seventh board of directors of the company. The transaction is subject to be approval by company’s general meeting of shareholders, Shenzhen Stock Exchange, and approval by the China Securities Regulatory Commission for registration.
Wuhan Tianyu Information Industry Co., Ltd is a China-based company principally involved in the development, manufacture, distribution and services of smart card products and related application systems. The Company primarily provides smart cards including communication smart cards, financial integrated circuit (IC) cards, intelligent traffic card, among others; terminal, including tax control disk and intelligent point of sale (POS), among others. Its products are applied in communications, finance and electronic payment, mobile multimedia broadcasting television, taxation, intelligent transportation, medical electronics and mobile Internet, among others. The Company also involves in the provision of technical services and development, as well as system integration business.