Fuji Printed Aluminum Edition stocks will be suspended on Tuesday (27th) and will resume trading on Friday. Lin Yaqing was praised for leading oil and gas contractor Jingli Holdings out of bankruptcy. He has agreed to subscribe to the new shares of...
Fuji Printed Aluminum Edition stocks will be suspended on Tuesday (27th) and will resume trading on Friday.
Lin Yaqing was praised for leading oil and gas contractor Jingli Holdings out of bankruptcy. He has agreed to subscribe to the new shares of Fuji Printed Aluminum Edition.
The sale of this batch of new shares raised 4.35 million yuan in net capital from Fuji Printing Aluminum Edition. The Board believes this will strengthen the financial position of the Group and provide flexibility to seize growth opportunities. The company intends to use all of this funds to expand its business, including capital expenditures and mergers and acquisitions.
Fuji Printed Aluminum Edition's full-year net profit fell 9.7% to 960,000 yuan as of the end of last year, although the full-year revenue increased by 10.7% to 3.6 million yuan.
Fuji Offset Plates Manufacturing announced plans to issue a large number of new shares to Lin Yaqing, former chairman and CEO of Dyna-Mac, on Friday (May 30), the share price soared 67% to close at 0.66 yuan, far higher than the new share offering price of 0.45 yuan per share.
After the transaction is completed, Lin Yaqing is expected to become the second largest shareholder of Fuji Printed Aluminum Edition and may become a director of the company, holding executive or non-executive positions. The first and third largest shareholders are estimated to be the company’s chairman Zhang Qimu and the managing director Zhang Qicong (transliteration, Teo Kee Chong), who hold approximately 23.4% and 16% of the expanded equity respectively.
The Kelly Board listed company, which produces and sells aluminum plates and chemicals to printing customers, announced late at night that it will issue 10 million new shares to Lin Yaqing, with a price of 0.45 yuan per share, accounting for 16.7% of the company's expanded share capital. This plan is still subject to shareholder approval. The offer price is 24.4% higher than the weighted average trading volume of the stock on Monday (26th) before the news was released.
