Sanden Holdings Corporation announced that it expects to receive ¥21.408512 billion in funding from Hisense Home Appliances Group Co., Ltd.
March 28, 2021
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Sanden Holdings Corporation (TSE:6444) announced a private placement of 83,627,000 shares at an issue price of ¥256 per share for gross proceeds of ¥21,408,512,000 on March 1, 2021. The transaction will include participation from Hisense Home Appliances Group Co., Ltd. (SZSE:000921). The company will raise funding from third-party allotment. The transaction has been approved by the board of directors. The transaction is subject is subject to approval of extraordinary general meeting of shareholders schedule on May 7, 2021. The payment period of transaction is May 10, 2021 to December 31, 2021. The company will pay issuance expenses of ¥535,000,000. The investors entered in to purchase agreement with the company. Post transaction the company will become the non-wholly owned subsidiary of the investor. The purchase agreement can be cancelled any time before the closing of the transaction. The shares issued representing approximately 75% of the total voting rights of the company.
On March 25, 2021, the company announced that the extraordinary general meeting of shareholders is now scheduled on May 27, 2021.
HISENSE HOME APPLIANCES GROUP CO., LTD., formerly Hisense Kelon Electrical Holdings Co.,Ltd, is a China-based company principally engaged in the development, manufacture and distribution of home electric appliances. The Companyâs main products include barrel washing machines, rotary drum washing machines, on-hook air conditioners, cabinet air conditioners, side by side combination refrigerators, multi-door refrigerators, computer refrigerators and mechanical refrigerators, among others. The Company distributes its products under the brand names of Hisense, Ronshen and Kelon. The Company distributes its products in domestic market and to overseas markets.