Bohai Automotive International Gmbh announced that it expects to receive CNY 58.572843 million in funding from Bohai Automotive Systems CO., LTD.
August 27, 2020
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Bohai Automotive International Gmbh announced that it will receive CNY 478,340,900 (€58,572,843.205) in an equity round of funding on August 28, 2020. The transaction includes participation from returning investor, Bohai Automotive Systems CO., LTD. (SHSE:600960). Post the closing of the transaction, the investor will continue to hold 100% stake in the company. The transaction has been approved at the twenty eighth meeting of the seventh board of directors of the investor. The transaction needs to be approved by the Development and Reform Commission, the commerce department and other relevant authorities. The transaction also needs to be approved by the shareholders of the investor. The transaction has been approved by 15th session of 7th supervisory board of the investor.
Bohai Automotive Systems Co Ltd, formerly Shandong Binzhou Bohai Piston Co Ltd, is a China-based company mainly engaged in the design, development, manufacturing and sales of pistons and other auto parts. The Company's main products include pistons and components, lightweight auto parts, auto wheels, auto air conditioners, shock absorbers, exhaust systems, fuel tanks, etc. Its products are mainly used in new energy vehicles and light-weight components of traditional vehicles, automotive powertrain components, chassis assembly components and heat exchange system components. The Company operates its businesses in domestic and overseas markets.