UET United Electronic Technology AG (XTRA:CFC) announced a private placement of €3 million in a round of funding on December 23, 2020. The company issued convertible bond with maturity date end of 2023, with the interest coupon rate of 6%. The bonds are converted into 1,000 ordinary bearer shares at a nominal value of €1 each for gross proceeds of €1000. The transaction included participation form institutional investors. The transaction was approved by the board of directors of the company.