Kyland Technology Co., Ltd. announced that it expects to receive CNY 160 million in funding
November 14, 2021
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Kyland Technology Co., Ltd. announced a private placement of not more than 25,000,000 shares at a price not less than 80% of the average price in the 20 trading days before the pricing reference date for gross proceeds of not more than CNY 160,000,000 on November 15, 2021. The transaction will include participation from not more than 35 investors. The transaction was approved in the 41st meeting of the company's 5th directorate meeting. The transaction is further subject to the approval of China Securities Regulatory Commission and Shenzhen Stock Exchange. The shares cannot be transferred within 6 months from the issuance closing date.
On December 13, 2021, the Shenzhen Stock Exchange accepted the application with respect to the transaction via Acceptance [2021] No. 504.
Kyland Technology Co., Ltd. is a China-based company principally engaged in the research and development, manufacture and distribution of network products for military use and industrial use. Its network products for military use and industrial use mainly include Ethernet switches, multi-media command and dispatch systems, precision clock synchronization and gateway products, as well as embedded industrial servers. The Company also provides big data services and network services, including big data analysis and mining and marketing and planning services, among others. The Company operates businesses in both domestic and overseas markets.