Wuhan Zhongyuan Huadian Science & Technology Co.,Ltd. announced that it expects to receive CNY 500 million in funding
April 25, 2020
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Wuhan Zhongyuan Huadian Science & Technology Co.,Ltd. (SZSE:300018) announced a private placement of not more than 96,000,000 A shares, not more than 20% of total share capital, for gross proceeds of not more than CNY 500,000,000 on April 26, 2020. The issue price will not be less than 80% of the average price in the 20 trading days before the pricing reference date. The transaction will not include participation from more than 35 investors. Each investor can subscribe to a maximum of 48,000,000 shares. The shares are subject to a hold period of 6 months. The transaction has been approved at the 19th (Extraordinary) Meeting of the Company's 4th Directorate, and is subject to the approvals of the Shareholders Meeting and the China Securities Regulatory Commission.
WUHAN ZHONGYUAN HUADIAN SCIENCE & TECHNOLOGY CO., LTD. is a China-based company principally engaged in the research, development, manufacture and sales of electrical power system intelligent record analysis products, time synchronization products, transformer substation integrated automation systems and automated distribution equipment, as well as the provision of related services for its products. The Company operates through two main segments. The Transmission and Distribution and Control Equipment Manufacturing segment is mainly engaged in the research, development, manufacture and sales of power failure recording devices, time synchronization devices, substation integrated automation system and distribution automation equipment. The Medical Health segment is engaged in the research, development and manufacture of medical information products and in-vitro diagnostic equipment.
WUHAN ZHONGYUAN HUADIAN SCIENCE & TECHNOLOGY CO.,LTD. 
