China Energy Savings Secures $50 Million Financing For New Ventures
17 1월 2006 - 11:01PM
PR Newswire (US)
HONG KONG, Jan. 17 /Xinhua-PRNewswire/ -- China Energy Savings
Technology, Inc. (NASDAQ:CESV), a leading provider of energy saving
products in China, announced today that it signed an underwriting
agreement with a full service investment financial group providing
a broad range of securities related services on January 17, 2006
for raising $50 million through a private placement of Preferred
Stock. The funds will be used to finance acquisitions of new
infrastructure and energy ventures. The S3 registration will be
filed with the financing placement. Mr Kwun-Luen Siu, the newly
appointed Chairman and Chief Executive Officer of the Company,
stated, "We are extremely pleased to announce this proposed
offering. This financing will allow us to more aggressively pursue
opportunities that we believe will drive our future growth plan. We
are extremely excited with the financial group who participated in
this financing as the underwriter." About China Energy Savings
Technology China Energy Savings Technology, Inc., through its
ownership interest in Starway Management Limited engages in the
development, manufacture, sale, and distribution of energy-saving
products for use in commercial and industrial settings in the
People's Republic of China. According to test reports by various
PRC authorities including the National Center of Supervision &
Inspection on Electric Light Source Quality (Shanghai) issued in
September 2002, Shenzhen Academy of Metrology & Quality
Inspection issued in December 2002 and approved by the State
Quality Supervision Inspection Department, the energy saving
products of Starway's subsidiaries may provide energy saving rates
ranging from approximately 25% to 45%. The energy saving projects
conducted by Starway's subsidiaries mostly relate to public or
street lighting systems, government administration units, shopping
malls, supermarkets, restaurants, factories and oil fields, etc.
There are small and large-scaled projects: the small-scaled
projects relate to restaurants, shops, small arcades, offices and
households through the sale of equipment, and the large- scaled
projects relate to large shopping malls, supermarkets, factories
and public bodies through the provision and installation of
equipment over a term usually extended for years. Safe Harbor
Statement As a cautionary note to investors, certain matters
discussed in this press release may be forward-looking statements
within the meaning of the Private Securities Litigation Reform Act
of 1995. Such matters involve risks and uncertainties that may
cause actual results to differ materially, including the following:
changes in economic conditions; general competitive factors; the
Company's ability to execute its business model and strategic
plans; and the risks described from time to time in the Company's
SEC filings. DATASOURCE: China Energy Savings Technology, Inc.
CONTACT: China Energy Savings Technology, Inc., +852-2588-1228, or
Copyright
China Energy Savings (NASDAQ:CESV)
과거 데이터 주식 차트
부터 5월(5) 2024 으로 6월(6) 2024
China Energy Savings (NASDAQ:CESV)
과거 데이터 주식 차트
부터 6월(6) 2023 으로 6월(6) 2024
China Energy Savings Technology (MM) (나스닥)의 실시간 뉴스: 최근 기사 0
More China Energy Savings Technology (MM) News Articles