Tanac Automation Co., Ltd. announced that it expects to receive CNY 350 million in funding
August 15, 2021
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Tanac Automation Co., Ltd. announced a private placement of not more than 25,000,000 shares for gross proceeds of not more than CNY 350,000,000 on August 16, 2021. The transaction will include participation from no more than 35 issuers. The transaction has been reviewed and approved at the second meeting of the company's fourth board of directors, and needs to be approved by the company's general meeting of shareholders, the Shenzhen Stock Exchange, and the China Securities Regulatory Commission. The shares shall not be transferred within six months from the date of the end of the issuance.
On October 26, 2021, the company announced that the application for the issuance of stocks to specific objects has been accepted by the Shenzhen Stock Exchange.
Tanac Automation Co., Ltd is a China-based company principally engaged in development, manufacture and sales of computer numerical control (CNC) automatic winding equipment and accessories. The Companyâs products include CNC automatic winding machines-standard, CNC automatic winding machines-non standard, CNC automatic special equipment and CNC equipment parts. CNC automatic winding machines-standard include air core coil winding machines, full-automatic winding machines and others; CNC automatic winding machines-non standard include full-automatic motor winding machines, full automatic flying winding machines and others; CNC automatic special equipment include full-automatic floating machines, assembly machines, terminal connectors and others; CNC equipment parts include tensioners, sealing-tape machines, twisters, succors sets, free location thread clamp devices. The Company distributes its products mainly within domestic market and to overseas markets.
TANAC AUTOMATION CO., LTD. 
