Sanan Optoelectronics plans to refinance 8 billion RMB into LED project

[High-tech LED News] Sanan Optoelectronics recently announced that it plans to publicly issue no more than 210 million shares, and the total amount of funds raised will not exceed RMB 8 billion (including the issue fee). The specific issue price will be submitted by the board of directors to the shareholders meeting to authorize the board of directors to Determined in consultation with the lead underwriter.

This is the third refinancing since Sanan Optoelectronics' backdoor listing. The funds raised will be used for Anhui Sanan Optoelectronics Co., Ltd. Wuhu Photoelectric Industrialization (Phase II) project and Anhui Sanan Optoelectronics Co., Ltd. LED application product industrialization project. The total investment of the two projects is about 9.125 billion yuan.

It is understood that on March 16, 2010, Sanan Optoelectronics issued a private placement plan, plans to issue no more than 53 million shares, and no less than 20 million shares, the issue price is not less than 55.77 yuan / share, the net proceeds are not More than 2.98 billion yuan will be used for the company's wholly-owned subsidiary Anhui Sanan Optoelectronics Co., Ltd. to implement Wuhu Optoelectronics Industrialization (Phase I) project. The total investment of the project is 6.662 billion yuan.

In February 2009, Sanan Optoelectronics announced that it will issue non-public offerings of no more than 50 million shares to no more than 10 institutional investors, and raise funds of no more than 800 million yuan for the LED chip industrialization project of Tianjin Sanan Optoelectronics. The additional price is not less than 12.44 yuan / share.

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