Grinm Advanced Materials Co., Ltd. announced that it will receive CNY 319.900006 million in funding
April 01, 2024
Share
On April 2, 2024, the company has disclosed the security key terms of the transaction. The company will issue 35,823,069 A shares at an issue price of CNY 8.93 per share for the gross proceeds of CNY 319,900,007.17 in the transaction. The transaction will include participation from returning investor China Youyan Technology Group Co., Ltd. and the investor directly holds 280,098,368 ordinary shares of the company, accounting for 33.09% of the company's total share capital, and is the company's controlling shareholder. The shares subscribed by China Youyan shall not be transferred within 36 months from the date of completion of the issuance of A shares to specific objects. The transaction has been approved by the 31st extraordinary meeting of the company?s eighth board of directors and is subject to Shanghai Stock Exchange?s approval and The China Securities Regulatory Commission.
On April 17, 2024, the company announced that the transaction has been approved by the shareholders of the company in the first extraordinary general meeting of shareholders in 2024.
Grinm Advanced Materials Co Ltd is a China-based company principally engaged in the production and sales of high-purity metal targets, rare earth materials, special infrared optical and optoelectronic materials, and biomedical materials. The Company operates its businesses through five segments. The High-purity/Ultra-high-purity Metal Materials segment is engaged in the production of platinum group, thin film materials, precious metals, non-ferrous metals and high-end manufacturing products. The Rare Earth Materials segment is engaged in the production of rare earth materials. The Infrared Optics/Optical Fiber Optoelectronic Materials segment is engaged in the production of infrared optics and optical fiber optoelectronic materials. The Medical Device Materials segment is engaged in the production of medical device materials. The Other segments is engaged in investment management business. The Company mainly operates its businesses in the domestic market and overseas markets.
GRINM ADVANCED MATERIALS CO., LTD. 
