Uroica Precision Information Engineering Co.,Ltd announced that it expects to receive CNY 600 million in funding
September 15, 2021
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Uroica Precision Information Engineering Co.,Ltd announced a private placement to issue not more than 667,335,255 A shares for gross proceeds of not more than CNY 600,000,000 on September 16, 2021. The transaction will include participation from not more than 35 investors. The pricing base date is the first day of the issuance period. The issue price is not less than 80% of the average price of the company’s stock during the 20 trading days prior to the pricing base date. The shares issued in the transaction is subject to a lock up period of 6 months from the closing of the transaction. The transaction has been approved by the board of directors of the company at the 3rd Meeting of the 5th directorate and the 3rd Meeting of 2021 of the 5th Supervisory Board and is subject to approval from shareholders of the company and the China Securities Regulatory Commission.
Uroica Precision Information Engineering Co., Ltd, formerly Uroica Mining Safety Engineering Co., Ltd., is a China-based company principally engaged in military, coal mine safety and communication businesses. The Company conducts its businesses mainly through three segments. The Military segment is mainly engaged in the research and development, integration and production of optoelectronic technology, as well as the research, development and production of optical systems. The Coal Mine Safety segment mainly provides products and technical services related to monitoring, underground transportation and engineering construction, including roof safety monitoring and controlling equipment for the prevention of coal mine collapse and others. The Information and Communication segment mainly provides traffic information products and services.