Sanxiang Advanced Materials Co., Ltd. announced that it expects to receive CNY 220 million in funding from Nuode Asset Management Co., Ltd., Capital Securities Corporation, Caitong Fund Management Co., Ltd.
September 22, 2020
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Sanxiang Advanced Materials Co., Ltd. announced a private placement of up to 57,732,756 A shares for the gross proceeds of up to CNY 220,000,000 on September 23, 2020. The transaction will include participation from not more than 35 investors. The company will issue shares at a price not less than 80% of the average price in the 20 trading days before the pricing reference date.
The transaction has been approved by 19th extraordinary meeting of the 3rd supervisory board and 23rd extraordinary meeting of the company's 3rd directorate. The transaction is subject to approvals of the shareholders meeting and the China Securities Regulatory Commission. The shares cannot be transferred within 6 months from the issuance closing date.
Sanxiang Advanced Materials Co., Ltd. is a China-based company principally engaged in the research, design, production and distribution of fused zirconia, casting modified materials, as well as single crystal fused alumina abrasive materials, among others. The Companyâs products include zirconia series products, single crystalline fused alumina series products, cored wire series products, nucleating agent (inoculant) series products, nodulizer series products and silica fume powder series products. The Company operates its business within domestic and overseas markets, including America, Canada, Brazil, France, Italy, Japan, South Korea, Australia, Indonesia, Taiwan and other countries and areas.
Sanxiang Advanced Materials Co., Ltd. announced that it expects to receive CNY 220 million in funding from Nuode Asset Management Co., Ltd., Capital Securities Corporation, Caitong Fund Management Co., Ltd.
SANXIANG ADVANCED MATERIALS CO., LTD. 
