Zhejiang Zhongjian Technology Co.,Ltd announced that it expects to receive CNY 516.2 million in funding
December 11, 2023
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Zhejiang Zhongjian Technology Co.,Ltd announced a private placement to issue 39,600,000 A shares for the gross proceeds of CNY 516,200,000 on December 12, 2023. The transaction included participation for not more than 25 investors. Shares subscribed cannot be transferred within 6 months from the issuance completion date. The price of this issuance shall not be less than 80% of the average trading price of the company's stock in the 20 trading days before the pricing base date. The transaction will include participation from 35 investors.
On Same date, 13th Meeting of the 4th Directorate and the 11th Meeting of the 4th Supervisory Board, the transaction has approved the 2023 private placement of A shares and in 2nd Extraordinary Meeting of Shareholders and 2nd Meeting of the 5th Board of Directors.
ZHEJIANG ZHONGJIAN TECHNOLOGY CO., LTD. is a China-based company engaged in the research and development, design, manufacture and sale of garden machineries and portable digital generators. The Company's garden machineries include chain saws, hedge shearing machines, sitting type lawn mowers and brush cutters, among others, which are mainly used for landscaping planting, repairing and maintenance. The major generator product is portable digital generator, which is widely used for camping trips, family spare emergency powers, power communications equipment, precision instruments, commercial establishments, mobile construction and field operations, among others.