Sinocera Functional Material's application for issuing stocks to specified investors accepted by SZSE
2020-07-21 11:38:32 [Print]
Sinocera Functional Material announced that it received the "notice about accepting the application of Shandong Sinocera Functional Material CO., Ltd. for issuing stocks to specified investors" released by Shenzhen Stock Exchange (SZSE) on 17 July, 2020. SZSE reviewed documents submitted by Sinocera Functional Material, which were considered complete, and decided to accept the application.
This private offering with a total subscription amount of RMB1.5 billion (USD0.21 billion) targets Zhang Xi and Zhuhai Gaolingyicheng Equity Investment Partnership Enterprise (limited partnership). All investors of this private offering will subscribe in terms of cash.
According to the program, after deducting all issuing expenses, the company will invest RMB200 million (USD28.64 million) in research and industrialization project of dielectric materials used for ultra-micro multi-layer chip ceramic capacitor, RMB170 million (USD24.35 million) in automobile honeycomb ceramics manufacturing project and RMB22.8 million (USD3.27 million) in 3,000-ton-per-annum high-performance rare earth functional materials industrialization project, with the remained part using as working capital.
This private offering with a total subscription amount of RMB1.5 billion (USD0.21 billion) targets Zhang Xi and Zhuhai Gaolingyicheng Equity Investment Partnership Enterprise (limited partnership). All investors of this private offering will subscribe in terms of cash.
According to the program, after deducting all issuing expenses, the company will invest RMB200 million (USD28.64 million) in research and industrialization project of dielectric materials used for ultra-micro multi-layer chip ceramic capacitor, RMB170 million (USD24.35 million) in automobile honeycomb ceramics manufacturing project and RMB22.8 million (USD3.27 million) in 3,000-ton-per-annum high-performance rare earth functional materials industrialization project, with the remained part using as working capital.
