Dawei Shares Wins CSRC Approval for Private Stock Placement

Dawei Shares said it has received approval from China's securities regulator for a registered share placement to specific investors, according to 36Kr. The approval lets Shenzhen Dawei Innovation Technology Co. conduct the issuance in line with the application documents and offering plan submitted to the Shenzhen Stock Exchange. The company must complete payment for the offering within 10 working days of the approval, and its board will handle the related procedures under applicable laws and shareholder authorization.