Qinshang Optoelectronics 496 million fixed increase fundraising plan expired

December 25, 2020

On the evening of Friday, Qinshang Optoelectronics announced that the “Proposal on the Non-public Issuance of A Shares of Dongguan Qinshang Optoelectronics Co., Ltd.” was reviewed and approved by the company’s shareholders meeting on July 31, 2014. No substantial progress has been made during the month. According to the relevant regulations of the China Securities Regulatory Commission, the non-public offering of shares will automatically become invalid.

According to the previous announcement, Qinshang Optoelectronics plans to issue 40.33 million shares to Li Xuliang, one of the company's actual controllers, at a price of 12.30 yuan per share. Li Xuliang will subscribe all the shares of this non-public offering in RMB cash. The total amount of funds to be raised this time is not more than 496 million yuan. After deducting the issuance expenses, it is intended to be used to supplement the company's working capital.

Qinshang Optoelectronics said that if the company plans to re-launch the financing plan in the future, it will convene a separate board meeting and shareholders meeting to re-examine, make decisions and announce.

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