Xining Special Steel New Material Technology Co., Ltd. announced that it expects to receive CNY 80 million in funding from XiNing Special Steel Co., Ltd.
Xining Special Steel New Material Technology Co., Ltd. announced that it will receive CNY 80,000,000 in an equity round of funding from returning investor XiNing Special Steel Co., Ltd. (SHSE:600117) on December 22, 2020. On closing, the investor retains its 100% stake in the company. Post-closing, the registered capital of the company will increase from CNY 20,000,000 to CNY 100,000,000. The transaction was approved by the board of directors of XiNing Special Steel Co., Ltd. (SHSE:600117) in its nineteenth meeting of the eighth session.