Suzhou Tianmai plans to issue 786 million yuan convertible bonds for heat dissipation product smart manufacturing project

Corporate Action
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Suzhou Tianmai announced that its board of directors has approved a plan to issue convertible corporate bonds to non-specific investors, with total proceeds not exceeding 786 million yuan. The funds will be used for the first phase of the Suzhou Tianmai thermal conductive and heat dissipation product smart manufacturing base in Luzhi. Each bond has a face value of 100 yuan, a term of six years, and an initial conversion price of 267.33 yuan per share. In addition, the company plans to conduct foreign exchange hedging business with an amount not exceeding the equivalent of 300 million US dollars, and intends to acquire 100% equity of Hainan Siyang with cash, thereby indirectly holding a 51% stake in Zhongleng Technology, in order to expand its high- and low-temperature smart equipment business in the pan-semiconductor sector.

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成都中冷低温科技有限公司Private▲ Positive
Capitalrelevance

Suzhou Tianmai's acquisition of Hainan Siyang indirectly gives it a 51% stake in Zhongleng Technology, expanding its business.

海南四洋投资有限公司Private▲ Positive
Capitalrelevance

Suzhou Tianmai plans to acquire 100% equity of Hainan Siyang, making it a wholly owned subsidiary.

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