PVTIME – IRICO Group New Energy Company Limited announced that on 6 August 2021, its Board considered and approved the resolutions regarding the Proposed A Share Offering and related authorization matters previously discussed in October 2020 and April 2021.
According to the Proposed A Share Offering plan, the Company intends to apply for an initial public offering of A Shares and listing on the ChiNext of the Shenzhen Stock Exchange for the allotment and issuance of not more than 58,780,000 A Shares with a par value of RMB1.00 each. The Proposed A Share Offering will be subject to, among other things, the approval by Shareholders by way of special resolutions at the EGM and the Class Meetings, as well as necessary approvals or decisions from the CSRC and other relevant regulatory authorities.
The proceeds proposed to be raised from the Proposed A Share Offering will be not more than RMB2 billion. All the proceeds after deducting the issuance expenses will be used as the construction and operation funds required for the development of the ultra-thin and high-transmissivity photovoltaic glass project related to the main business of the Company and to supplement the working capital.
