Keli Motor Group Co., Ltd. announced that it expects to receive CNY 500 million in funding
September 24, 2020
Share
Keli Motor Group Co., Ltd. announced that it will issue not more than 42,636,000 A shares for gross proceeds of not more than CNY 500,000,000 on September 25, 2020. The transaction will include participation from not more than 35 special investors. The pricing base date is the first day of the issue period, and the issue price is not less than 80% of the average price of the company's stocks 20 trading days before the first day of the issue period. The transaction has been approved by the board of directors in the 13th meeting of the 2nd board of directors and still needs to be submitted to the company's shareholders meeting for review and approval, and can be implemented after approval by the China Securities Regulatory Commission.
KELI MOTOR GROUP CO., LTD. formerly Hunan Keli Motor Co., Ltd. is a China-based company which is mainly engaged in research and development, manufacture and sales of micro motors. The Companyâs main products include shaded pole motors, universal motors, direct-current brushless motors, step motors, servo motors and others. The Companyâs products are mainly used in household appliances, office security products, industrial automation products and other products, such as refrigerators, washing machines, microwave ovens, hair dryers, copiers, monitoring automation equipments, industrial robots motors, infusion pumps, nuclear magnetic resonance imaging equipments, plug-in machines and others.