Kehua Holdings announced on the evening of July 16 that it had received an approval from the China Securities Regulatory Commission for its application to issue shares to specific investors. The approval is valid for 12 months from the date of registration. The company must strictly follow the filing documents and issuance plan submitted to the Shanghai Stock Exchange. If any major events occur between the approval date and the completion of the issuance, the company must promptly report to the Shanghai Stock Exchange and handle them in accordance with relevant regulations. The company stated that it will proceed with the private placement of A-shares within the prescribed period, in compliance with the approval document, relevant laws and regulations, and the authorization of its shareholders' meeting.
Kehua Holdings Co Ltd Class ACSRC approval for private placement enables capital raising, which is positive for the company's financing.