Sanhe Yanfeng High-tech Industrial Park Co., Ltd announced that it expects to receive CNY 1.0725 billion in funding from Beijing Sinnet Technology Co., Ltd
March 05, 2019
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Sanhe Yanfeng High-tech Industrial Park Co., Ltd announced that it will sign capital increase agreement to receive not more than CNY 1,072,500,000 in an equity round of funding on March 6, 2019. The transaction will include participation from new investor Beijing Sinnet Technology Co., Ltd (SZSE:300383). Post closing the transaction, the investor will acquire 65% stake in the company. The transaction was approved by the board of directors of the investor in its 3rd directorate’s 1st meeting. The transaction does not need approval from the shareholders.
Beijing Sinnet Technology Co., Ltd. is a China-based company principally engaged in the provision of integrated Internet services. The Company provides broadband access services, Internet data center (IDC) and value-added services, IDC operation and management services, as well as cloud computing and related services, among others. The Companyâs value-added services include IDC network security services, IDC load balancing services, data flow monitoring services and reverse domain name analysis services, among others. The Company also offers network systems integration services. The Company operates businesses in Beijing, Hebei and Hong Kong.
Sanhe Yanfeng High-tech Industrial Park Co., Ltd announced that it expects to receive CNY 1.0725 billion in funding from Beijing Sinnet Technology Co., Ltd