China's Greatoo Inc (SZSE: 002031) Says today that the company gets regulatory approval for its private placement of shares.
The company revealed on Dec. 11, 2013 that Greatoo preplans for private placement of at most 153 million shares for not lower than CNY 6.56 per share to finance not more than CNY 1 billion, which will be put into industrial robot and smart automatic production lines as well as equipment industrialization and technology innovation, expected to increase operating revenue by CNY 800 millionand after-tax profit of CNY 170 million a year after full production.
In July 2014, the company amended new plan is to issue up to 153,610,000 shares at no less than 6.51 yuan per share for the same amount of 1,000 mln yuan.The company amends the plan due to 2013 dividend payment.
