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- 08/10/2020
USI Intends to Issue RMB 3.45 Billion Yuan in Convertible Bonds for Manufacturing Projects and Liquidity Supplement
(2020-8-10 Shanghai) Universal Scientific Industrial (Shanghai) Co., Ltd. (USI, SSE:601231) convened the third meeting of the fifth Board of Directors and the second meeting of the fifth Board of Supervisors to approve proposals including the issuance of convertible corporate bonds. USI plans to raise up to RMB 3.45 billion yuan through the sale of convertible corporate bonds with a 6-year maturity.
In line with the company's business positioning and the development strategy of "modularization, diversification, and globalization", the capital raising is intended for manufacturing projects including producing chip module in Shengxia facility, electronic product in Huizhou facility and wearable device in Vietnam facility, as well as serving as company's supplemental liquidity. This move will inject new momentum into the development of the company.
The capital raising will promote the company's capital strength and further optimize its asset structure and financial status. Therefore, the issuance of convertible bonds is an important measure for the company to enhance its long-term competitiveness and strengthen its leading position in the industry, which will bring good investment returns to the company and investors.
In line with the company's business positioning and the development strategy of "modularization, diversification, and globalization", the capital raising is intended for manufacturing projects including producing chip module in Shengxia facility, electronic product in Huizhou facility and wearable device in Vietnam facility, as well as serving as company's supplemental liquidity. This move will inject new momentum into the development of the company.
The capital raising will promote the company's capital strength and further optimize its asset structure and financial status. Therefore, the issuance of convertible bonds is an important measure for the company to enhance its long-term competitiveness and strengthen its leading position in the industry, which will bring good investment returns to the company and investors.
