Huaiji Dengyun Auto-parts Co.,Ltd. announced that it expects to receive CNY 249.999999 million in funding from Yike Zhengrun Investment Group Co., Ltd.
August 06, 2021
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Huaiji Dengyun Auto-parts (Holding) Co.,Ltd. announced a private placement to issue not more than 24,131,274 A shares at a price of CNY 10.36 per share for gross proceeds of not more than CNY 250,000,000 on August 7, 2021 and signed a share subscription agreement with returning investor Yike Zhengrun Investment Group Co., Ltd. The pricing base date is the first day of the issuance period. The issue price is not less than 80% of the average price of the company’s stock during the 20 trading days prior to the pricing base date. The shares issued in the transaction is subject to a lock up period of 36 months from the closing of the transaction. The transaction has been approved by the board of directors of the company at the 6th Meeting of the 5th directorate and is subject to approval from shareholders of the company and the China Securities Regulatory Commission.
Huaiji Dengyun Auto-parts (Holding) Co.,Ltd. is a China-based company principally engaged in the research, development, manufacture and sale of automotive engine intake and exhaust valve series products. The Company's main products include accessory product diesel engine valves, accessory product gasoline engine valves and maintenance market valves. The Company's products are mainly used in automobiles, motorcycles, agricultural machinery, construction machinery, ships, railway internal combustion engines, oil rigs and internal combustion engine generator sets. The Company distributes its products in domestic market and to overseas markets.
Huaiji Dengyun Auto-parts Co.,Ltd. announced that it expects to receive CNY 249.999999 million in funding from Yike Zhengrun Investment Group Co., Ltd.