Tech Semiconductors Co., Ltd. announced that it expects to receive CNY 500 million in funding
April 16, 2020
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Tech Semiconductors Co., Ltd. (SZSE:300046) announced a private placement of not more than 213,120,000 common shares for gross proceeds of not more than CNY 500,000,000 on April 17, 2020. The company will issue shares at a price not lower than 80% of the median market price of its shares as of 20 previous days to issuance date. The transaction will include participation from not more than 35 specific investors. All securities to be issued will be subject to a lock up period of 6 months from the issuance date. The transaction has been approved in the 19th meeting of the 4th board of directors of the company, and is subject to approval of shareholders' of the company, and China Securities Regulatory Commission. The transaction will be valid for 12 months since approval from the shareholders´ meeting of the company.
TECH SEMICONDUCTORS CO., LTD is a China-based company mainly engaged in research, development, manufacturing and sales of power semiconductor chips and devices. The Company's main products include power thyristors, rectifiers, insulated gate bipolar transistor (IGBT), power semiconductor modules and other power semiconductor devices for industrial electrical control and power supply equipment. The company is also engaged in pan-cultural business, focusing on Internet film production and investment. The Company conducts its businesses in domestic and overseas markets.