CNFC Overseas Fisheries Co.,Ltd announced that it expects to receive CNY 400.000025 million in funding
December 02, 2021
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CNFC Overseas Fisheries Co.,Ltd announced a private placement not to exceed 58,600,000 shares at a price of CNY 6.825939 per share for gross proceed not to exceed CNY 400,000,025.4 on December 3, 2021. The transaction will include participation from 35 special investors. The pricing base date will be the first day of issuance. Issue price for the shares to be issued in the private placement shall not be less than 80% of the average stock price 20 trading days before the pricing reference date. The securities to be issued in the transaction will have a lock-up period of six months after issuance completion date. The transaction has been deliberated and approved at the third meeting of the eighth directorate of the company. The transaction is subject to approval from the company's shareholders, from China National Agricultural Development Group Co., Ltd. and the China Securities Regulatory Commission.
On December 23, 2021, the transaction was approved by China National Agricultural Development Group Co., Ltd via [2021] No. 346.
CNFC Overseas Fisheries Co Ltd is a China-based company principally engaged in the offshore fishing business. The Company is mainly engaged in offshore fishing, aquatic product processing, trading business, fishery services, marine biotechnology and other businesses. The Company's main products include soft-bodied fish, hard-bodied fish, shrimp, crab, shellfish and their products. The Company's products are mainly sold through brands such as Mingzhu, Zhongshui Yuanyang, Zhongyu Xianjing, Zhongshui Haizhongjin, Haisikang and Jinxiang. The Company primarily conducts its businesses in domestic and overseas markets such as Africa, Europe, the United States, Japan, South Korea, and the Middle East.
CNFC OVERSEAS FISHERIES CO.,LTD 
