Shandong Ruyi Fundraising 2 Billion Acquisition Of New Assets

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On the day of the announcement, the company intends to sell at no less than 9.14 yuan / share price, the non-public offering does not exceed 230 million shares, the total amount of raised funds does not exceed 20.01 billion yuan, for the acquisition of clothing assets, expansion of production capacity and repayment of bank loans.

According to the arrangement, Shandong Ruyi will purchase 661 million yuan in the fund-raising fund.

Assets, Ruyi investment, Tai'an Ruyi 100% stake and Wenzhou Zhuang Ji 51% stake. Meanwhile, 839 million yuan of the fund-raising fund will be used to build the high quality worsted fabric projects, scientific research projects and 2 million sets of high-end suits of Ruyi spinning, and the remaining funds will be used to repay bank loans.

Before this issue, Ruyi investment held 53.33% stake in Ruyi technology, and Ruyi technology owns 52.01% stake in Shandong Ruyi controlling shareholder's wool textile group. Ruyi technology and Ruyi investment are all related parties.

Among them, the number of shares subscribed by Ruyi technology is no less than 10% of the total amount of the non-public offering. The shares issued for the issue are not pferable within 36 months from the end of the issue.

It is reported that Ruyi Technology (clothing assets), Wenzhou Zhuang Ji and Tai'an as Ruyi related parties in Shandong, mainly engaged in the production of wool textile clothing, and the existing business of listed companies to form upstream and downstream relations, there is a related paction of worsted and woolen purchase and sale business. With the expansion of clothing production scale and the related pactions of listed companies, the amount will increase further.

After the completion of the non-public offering, all of the above assets will enter the listed companies, and the related pactions can be eliminated.

Ruyi science and technology clothing asset is a business entity of Ruyi technology, which is engaged in wool textile clothing business. It has advanced manufacturing equipment abroad, as well as Italy clothing version and technology.

After years of development, it has formed more than 100 sets of production scale.

Before the issue, Shandong Ruyi actual controller Qiu YV directly held 0.0235% of the total share capital of the company, and its controlled wool textile group and Ruyi import and export held 26.29% and 2.94% of the total share capital respectively.

Qiu Yafu shares 46 million 800 thousand shares directly and indirectly, accounting for 29.25% of the total share capital of the company.

Since the issue is subject to the conditions of "the maximum number of subscriptions for shares issued by the issuer is 38 million shares" except for the Italian technology, after the issuance is completed, Qiu YV will hold a 17.9% stake in the company directly and indirectly, and no more than 10% of the other investors will be held on the basis of the issuing limit and the lower limit of Ruyi technology subscription. Qiu Yafu is still the actual controller of Shandong.

Extended reading:

Shandong Ruyi

Shandong Ruyi science and technology group is a large Sino foreign joint venture holding multiple shares. The state-level high-tech enterprise, the textile industry has made outstanding contributions to the enterprise, and the top ten textile enterprises in the whole country.

The most competitive ten strong enterprises, Shandong hundred key enterprise groups.

The company involves rabbit hair spinning, clothing, cotton textile, cotton printing and dyeing, knitting, fiber, denim, real estate and other industries.

At present, the group has total assets of 6 billion 500 million yuan and 26000 employees. In 2008, it realized sales income of 8 billion 80 million yuan, profits and taxes of 739 million yuan, and total import and export volume of 460 million dollars.