C&S Paper Co., Ltd announced that it expects to receive CNY 147.6 million in funding from C&S Paper Co.,Ltd
December 04, 2019
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C&S (Hubei) Paper Co., Ltd announced that it will raise CNY 147,600,000 in an equity round of funding on December 5, 2019. The transaction will involve participation from returning investor C&S Paper Co.,Ltd (SZSE:002511). Post the closing of the transaction, the stake of C&S Paper Co.,Ltd (SZSE:002511) will increase from 75% to 93.375% and stake of existing investor Lianyungang Zhongshun International Freight Forwarding Agency Co., Ltd. will decrease from 25% to 6.625%. Post the closing of the transaction, the registered capital of the company will increase from HKD 50,000,000 (CNY 44,991,000) to CNY 200,000,000. The transaction has been approved by the board of directors of the investor and is still subject to its shareholders' approval.
C&S Paper Co.,Ltd is a China-based company principally engaged in the production, processing and sales of household paper products. The Company's main products include roll paper and non-roll paper tissue products. The Company owns brand names of C&S and Sun. The Company distributes its products in the domestic market.