On January 13, Fulin Seiko announced the termination of major asset restructuring and planned to issue shares to specific targets.
Fulin Seiko intends to introduce Ningde Times as a strategic investor, and to adjust the original planned subsidiary Jiangxi sublimation equity cooperation to a comprehensive strategic cooperation of equity and business of listed companies.
That is to say, the cooperation between Fulin Seiko and Ningde Times has changed from reorganization to fixed increase.
It is reported that Ningde Times will subscribe for 233 million shares of Fulin Seiko at a price of 13.62 yuan per share, with an investment of 3.175 billion yuan. After the issuance, Ningde Times holds 12% of the shares of Fulin Seiko.
It is worth noting that this is not just an investment. According to the Strategic Cooperation Agreement signed by the two sides, Ningde Times will purchase no less than 3 million tons of lithium iron phosphate products from Fulin Seiko in the next three years.
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