Shandong Zhonglv Eco-Recycle Co., Ltd. announced that it expects to receive CNY 90 million in funding from Zhongzai Resource and Environment Co., Ltd.
December 03, 2017
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Shandong Zhonglv Eco-Recycle Co., Ltd. announced a private placement of common shares for gross proceeds of CNY 90,000,000 on December 4, 2017. The transaction will involve participation from existing investor Zhongzai Resource and Environment Co., Ltd. (SHSE:600217). Post the closing of the transaction, the registered capital of the company will increase from CNY 30,000,000 to CNY 120,000,000 and the investor's stake will increase from 56% to 89%. The transaction has been approved by the investor at its 6th directorate's 47th meeting and is subject to approval from its shareholders at its 3rd special shareholders’ meeting for 2017 to be held on December 20, 2017.
Zhongzai Resources and Environment Co., Ltd., formerly Shaanxi Qinling Cement (Group) Co., Ltd. is a China-based company principally engaged in the development, recycling, processing and sale of available resources. The Company is also involved in the wholesale of general merchandise, knitwear, daily groceries, furnitures, hardware, chemical products, construction materials, mineral products, as well as plastic products, among others. The Company mainly operates its business in domestic market.
CHINA RESOURCES AND ENVIRONMENT CO.,LTD. 
