Zhen Mingli applied to Taiwan to send TDR to raise funds to expand LED chip business

The decoration lamp manufacturer Zhen Mingli (01868.HK) announced on the afternoon of December 2 that the company applied to the Taiwan Stock Exchange and relevant departments on the same day, and issued Taiwan with no less than 80 million but not more than 100 million copies. Depositary Receipts (TDR).

These TDRs are equivalent to not less than 40 million shares but not more than 50 million new shares, representing not less than 4.36% but not more than 5.45% of the company's current issued share capital. The issue of the issue must be subject to the approval of the Taiwan Stock Exchange. The company will also apply to the Hong Kong Stock Exchange for the listing of, and permission to deal in, the new shares on the Hong Kong Stock Exchange.

According to the announcement, the board of directors intends to use the net proceeds from TDR to provide funds to expand the production capacity of China's LED chip business and meet the increasing demand of the LED lighting market.

In addition, as the Group's major customers include major international brand manufacturers and other major Taiwanese chips, epitaxial wafers and package manufacturers, the TDR will also increase the public awareness of the group and enhance the Group's corporate image in Taiwan. Its competitiveness in Taiwan is conducive to business development.

As of 15:17, Zhen Mingli fell 0.69% to HK$4.31.

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