Yili First Ancient City Storm Wine Industry Co., Ltd announced that it expects to receive CNY 130 million in funding from Xinjiang Yilite Industry Co. Ltd.
Yili First Ancient City Storm Wine Industry Co., Ltd announced a private placement for gross proceeds of CNY 130,000,000 on October 25, 2019. The transaction will include participation from existing investor Xinjiang Yilite Industry Co. Ltd. (SHSE:600197).to maintain its 100% stake in the company. Post the closing, the registered capital of the company will increase to CNY 395,500,000. The transaction was approved in the 7th meeting of the 20th directorate of the investor.