North Industries Group Red Arrow Co., Ltd. announced that it has received CNY 2.04759269 billion in funding from a group of investors
January 18, 2017
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On January 19, 2017, North Industries Group Red Arrow Co., Ltd. (SZSE:000519) closed the transaction. The company amended the terms of the transaction. The company issued 168,804,014 shares at the price of CNY12.13 per share for gross proceeds of CNY2,047,592,689.82. The transaction saw participation from Yuxi Industrial Group Co., Ltd., North Industries Group Investment Management Co., Ltd., Shanghai Dace Venture Capital Partnership Enterprise (Limited Partnership), Bosera Funds Management Co., Ltd., JT Asset Management Co., Ltd.,Beixin Ruifeng Fund Management Co., Ltd., Caitong Fund Management Co., Ltd. and Huatai-PineBridge Fund Management Co., Ltd. for total of 168,804,014 shares. The company incurred issuance expenses of CNY 56,281,347.49 in the transaction. The transaction was approved in the 28th session of the company’s 9th directorate and by the 21st session of the company’s 9th supervisory board. The transaction was approved by the Ministry of Commerce of the People’s Republic of China Anti-Monopoly Bureau. The company received approval from the China Securities Regulatory Commission. The lock-up period for the new shares subscribed by Yuxi Industrial Group Co., Ltd. and North Industries Group Investment Management Co., Ltd. is 36 months and for all other investors it is 12 months.
NORTH INDUSTRIES GROUP RED ARROW CO., LTD, formerly HUNAN JIANGNAN RED ARROW CO.,LTD, is a China-based company principally engaged in the research, development, manufacture and sale of superhard materials, intelligent ammunition products and internal combustion engine parts. The Companyâs superhard materials mainly include synthetic diamonds, cubic boron nitrides single crystal and polycrystalline series, composite materials and high-purity graphite and related products, among others. The Company's intelligent ammunition products mainly include large caliber shells, rocket bombs, missiles and submunitions, among others. The Companyâs internal combustion engine parts mainly include gasoline, diesel engine cylinder liners and pistons, among others. The Company distributes its products in domestic market and to overseas markets.
NORTH INDUSTRIES GROUP RED ARROW CO., LTD 
