Xinxing Tools announced that the company's initial public offering of 25 million shares, with an issue price of 33.58 yuan/share, raised a total capital of 839.5 million yuan. After deducting issuance fees, the actual net amount raised was 758 million yuan, all of which were completed on July 24. The company and sponsor, Huatai United Securities, signed a “Tripartite Supervision Agreement” with five banks, including Industrial and Commercial Bank and Bank of Ningbo, which clarifies the rights and obligations of all parties relating to the storage, use, and supervision of fund-raising to regulate fund-raising management and protect investors' rights and interests.

Disclaimer:Webull uses external vendor Google Translation Service for news translations where we endeavour to ensure these are correct, however, we recommend that you please double-check this information accordingly. Webull is not responsible for translation errors or issues.