China National Software & Service Company Limited announced that it expects to receive CNY 650 million in funding from China Electronics Corporation and other investors.
January 05, 2013 at 11:00 pm EST
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China National Software & Service Company Limited (SHSE:600536) announced a private placement of not more than 71,586,000 A shares at not less than CNY 9.08 per share for not more than gross proceeds of CNY 650,000,000 on January 6, 2013. Not more than 10 specific investors, including existing investor, China Electronics Corporation will participate in the transaction. The shares subscribed by China Electronics Corporation will not be transferred within 36 months from the end date of issuance and the shares subscribed by other 9 investors not be transferred within 12 months from the end date of issuance.
On February 6, 2013, the board of directors of the company approved the transaction at its fifth session of the fifth directorate meeting. The transaction was approved by State-owned Assets Supervision and Administration Commission of the State Council. Shareholders also approved the transaction in1st special shareholders' meeting of 2013. The transaction is still subject to the approval from China Securities Regulatory Commission.
On October 16, 2013, the company announced that the transaction has been approved by the Issuance Examination Committee of China Securities Regulatory Commission.
On November 7, 2013, the company amended the terms of the transaction. The company will issue 72,142,162 A shares at not less than CNY 9.01 per share.
On November 26, 2013, the company announced that it has received approval from China Securities Regulatory Commission for issuance of shares within a period of 6 months. Citic Securities Co., Ltd. will act as the lead underwriter for the company on the transaction.
CHINA NATIONAL SOFTWARE & SERVICE COMPANY LIMITED is principally engaged in software development, distribution and services. The Company operates its businesses through development of software products, which offers basic software products, self-control related products, information security related products, and software and hardware combined products; industrial solutions and services, which involves in industries such as patent, emergency, railway transportation, medical, electric power, security monitoring, taxi, finance and statistics, among others, as well as software services, which involves in the provision of cloud computing, wisdom urban construction and 3rd generation telecommunication (3G) video value added services.
China National Software & Service Company Limited announced that it expects to receive CNY 650 million in funding from China Electronics Corporation and other investors.
CHINA NATIONAL SOFTWARE & SERVICE COMPANY LIMITED 
